According to an article in this morning's CT, Coventry City FC have rejected an offer from Arena Coventry Limited to reduce the rent.
Arena Coventry Limited, whose profits were just £470k last year, are understood to have offered a new deal of £650,000 a year rent rather than £1.2m per year.
However, Coventry City who have not paid their £100k a month rent into the Escrow Account for the last five months are believed to be looking for a deal which will allow them to increase their revenue streams.
Neither party is happy to discuss the latest deal and Tim Fisher told the CT's Les Reid: "Our stance, all along has been to not comment on commercially sensitive negotiations and that remains the case.
"Our talks continue and as soon as there is something concrete to report, we will communicate that to our supporters."