According to Les Reid, a dispute is holding up Coventry City's bid for the share of the Ricoh Arena management company Arena Coventry Limited which is currently held by the Alan Higgs Charity.
Mr Reid tweeted: "I can reveal a dispute with #CCFC accusing Higgs of delaying release of info needed for #CCFC to bid for 50% Ricoh at £1.75m.
"A leaked #ccfc letter to @coventrycc CEO Reeves accuses Higgs of failing to release key info to #ccfc Ltd liquidator including updated info on JV agreement between council & Higgs, & Higgs' pre-emption rights over council share in Ricoh, ahead of 1 deadline yesterday.
"The letter states #ccfc Ltd liquidator was given deadline by Higgs of yesterday to indicate an intention to bid for Higgs shares at £1.75m.
"This figure differs from the £2.77m which council sources leaked was terms of the #5.5m+loan #Wasps Ricoh deal agreed by council.
"Letter calls on @coventrycc to step in so liquidator gets info needed for #CCFC to consider formal bid for Higgs share in Ricoh Arena.
"#CCFC calls on council to sort it out as Higgs claims it's unable to provide requested info needed for due diligence on Higgs Ricoh share."