Coventry-born businessman Jojar Dhinsa has revealed he wants to takeover the Division One outfit and propel them into the Premiership.
The Sky Blues fan, thought to be worth £40m, says he is in the early stages of buying the Highfield Road club.
"This is a serious bid. I want to buy Coventry City and at the end of the season we will approach them," he said.
"It's a package which will be lucrative to the club," he told the Coventry Evening Telegraph.
He added: "If run well I see the club progressing like Birmingham City because Coventry belong in the Premiership."
Coventry chairman Mike McGinnity said: "I'd be a fool were I not to listen to anyone who wanted to invest in Coventry City."