Coventry City have not signed Novo from Glasgow Rangers. A fee of £500k has been agreed between the two clubs and a medical completed according to Sky Sports News who were still running the story at 5.28pm.
However, Coventry have issued a statement saying: "Contrary to a number of various media reports Coventry City can confirm that they will not be signing Rangers forward Nacho Novo.
It had been reported that the Spanish player had put pen-to-paper on a deal here at the Ricoh, but this is not the case."