According to a tweet from the Coventry Telegraph's Les Reid, Preston Haskell IV is in talks with the Alan Higgs Trust about buying their fifty per cent share of the Arena Coventry Limited.
The American has been in Britain over the last few days and whilst he has not bought shares in the Ricoh Arena or Coventry City FC, he has had talks about buying the Higgs share which was sold to them by Michael McGinnity and the then Coventry City board in 2004.
Mr Reid tweeted: "While rumour Haskell has bought Ricoh shares & #CCFC clearly false, it appears ACL talks have been ongoing on at least Higgs share."