Gary Hopkins has been speaking further about the bid to take over Coventry City and the Arena. The front man behind Manhatten Sports Capital Partners told the CT: "I am fortunate enough to have worked in the sports business so I understand what it takes to turn around a franchise and build a sports team.
"So it is clear to me that on its own it is tough from a business standpoint to find a Roman Abramovich who is going to come and put in £100million.
"That's great if you can find one, fantastic, but the chances are slim.
More From Mr Hopkins
"So I looked at it and realised that it needs a big solution because Coventry's problems can't be fixed by a few million pounds. "I started really working through my network and saying, look, there is a great opportunity here. "It is a great city, it is a growing city and a new city.
"It has been through a tough time but there are lots of great stories about the city itself, about the university, about the redevelopment of an urban area that's been blighted, the new hospital at Walsgrave and then the new Arena, which is a great model."
"I have spoken to the council, to ACL, I have spoken to the Higgs charity, to the club and there is not one person who doesn't realise that Coventry City being in the Premiership is good for the city and good for the Ricoh, good for business and good for all the parties.
"It makes a lot of sense and everyone who wants that to happen will support it, but it is just how do we get there? "And that's what we are really looking to do. "It became clear from my partners that we are putting together that I had to be part of it. "It is not just about raising money. "They are going to support me in putting this together and running it.
"They have made sure that I will stay with the programme and I will, I will relocate to do that,said Mr Hopkins who has been staying in the Ricoh Hotel for the last month. He went on to say:
"Everyone involved wants to make sure that the operation going forward - if this was to happen - still embodied what this is all about, which is urban regeneration and supporting the community, having a great sports entertainment complex and making sure those things are maintained. "That's exactly what we would do in the States where we would make sure conferences and concerts were coming, we'd make sure the hotel business was good, so we have had nothing but good conversations.
"Sportsmen are an important part of any stadium society and in the States they invest millions and millions to get teams to come to their stadiums because they understand how important it is. "Coventry have been through a tough five years and I think it is important that we change that dynamic."