Colchester United boss Ady Bothroyd is being linked with the City manager's job.
The Watford Observer are reporting that the former Hornets boss has been the subject of heavy betting.
The paper quotes Sky Bet’s football betting spokeswoman Helen Jacob as saying: “This substantial gamble has come out of the blue given that Boothroyd does not seem to have been linked with Coventry, so we are keenly watching out for news emanating from the Ricoh Arena.
“They are currently taking any price we put up and a number of new accounts have been opened specifically to back Boothroyd to join the Sky Blues.”