Ray Ranson has said that he is happy working with the club to get Coventry City's results back on track.
Mr Ranson is now a football consultant until the end of the season, having been replaced as Chairman by Ken Dulieu.
Speaking to Sky Blue Player, Mr Ranson, who was linked on Saturday with a bid to buy the club, said: "As most people within the club and in the football world generally have been aware my role as Executive Chairman of Coventry City FC over the past three years has been essentially focused on the football side of the business.
"Coventry City is now entering a new phase where the commercial side of the company will need dedicated focus under a new Chairman.
"As my former role as Executive Chairman has now been split to pave the way for a new future for the club, I am more than happy to assist the new Chairman and Board as well as the football management team to get our results back on track."