Coventry City Council Leader John Mutton has said there would be riots on the streets if Sisu were to be given the Ricoh Arena.
Former Coventry City CEO Paul Fletcher speaking about the plight of the cash strapped Sky Blues told the Coventry Observer: "The only one who can help is Coventry City Council.
"It must start to realise the importance of a successful club to the city and hand back the Arena to allow the club to survive. If it doesn't, the future will be very gloomy. "
However, Coventry City Council leader John Mutton, a City supporter for 57 years, hit back saying: "We could never hand it over - it's public money.
"Imagine the reaction when council tax went up by 20 per cent because we had bailed out the football club.
"There would be riots on the street. This is never something Paul would have agreed to as chief executive of stadium owners ACL and was never raised at any point."
"It's been a shambles ever since SISU took over. "We need to remember why we invested in this. The old gasworks site lay derelict and contaminated for 20 years and this has created jobs in the north of the city where unemployment is high.
"Someone needs to come forward to invest money in the club and prove it would invest in the infrastructure, such as the hotels we desperately need to stop missing out on conferences.
"There have been one or two groups interested but someone has to put their money where their mouth is.
More on this: http://www.coventryobserver.co.uk/2012/04/26/news-Former-Arena-chief---give-SISU-the-Ricoh-37931.html#.T5kkl3TgZXw.twitter