Former Coventry City Director Leonard Brody feels that City's Board are doing a commendable job.
Speaking to the CT, Mr Brody said: “I don’t think we ever said it would take six months but what we thought was that the club needed to break even and get to a solid financial ground.
“In terms of time frame I think lots of people on the board had different views of how long that would take and I think realistically it was probably going to take 12 to 18 months from last March before we could get to break even.
“And I think the board has done a commendable job by doing one of two things.
"One is getting the cost basis of the club down significantly compared to where we were and secondly, bringing the asset value of the player base up.
“I think the target is to be ready and financially break even at the start of next season so that we enter into the new league rule environment not in violation of it.
“Is is harder than we thought? I don’t think it is harder, it’s just hard. It’s a difficult environment.”
Speaking about the issue of promotion, Mr Brody said: “I can’t speak for the other directors but I was not focused on any illusions about getting to the Premier League or not getting there.
“My focus was to attempt to get the club to a decent financial footing and solid ground and try to do things to connect the fan base to be closer to the club than any other team in England.
"Those were my two big goals and the second is still a work in progress and there’s a lot of stuff going on.
"Now that I am working outside of the board my big mantra is that we need to turn a good proportion of this club back to the community.”