Coventry City Director Mark Labovitch has said that the Ricoh Arena would be a white elephant without the Sky Blues playing there.
Labovitch is quoted by The Guardian's James Riach as saying: "The council seem to be quite naively hopeful that there is a Russian oligarch or a sheikh waiting to take over.
"I think that's unrealistic. I do a lot of work in the Gulf and know a lot of the sheikhs who are interested in football quite well, they want trophies. They don't talk to another Gulf royal and say, 'I've bought Coventry City.'
"I was staggered when they first mentioned building a new stadium but, when you look at the way we are denied revenues that we used to have at Highfield Road, that were given away and had nothing in return, it is strange that the economics of building a new stadium actually stack up. It is ridiculous and wasteful because what would happen to the Ricoh Arena is that weeds would come up through the cracks in the concrete and it would become a white elephant."