Prospective chairman Ray Ranson is confident his proposed takeover of Championship club Coventry is nearing completion.

Sky Blue Sports and Leisure, the company led by Ranson and backed by London-based consortium Sisu Capital, saved the Sky Blues from administration when they stepped in with an 11th-hour offer to buy the club on December 14 - subject to the acceptance of 90% of all shareholders.

Commenting on the current position, Ranson said in a statement: "We have been delighted with the amount of acceptances we have received in such a short space of time, especially as our offer documentation was posted out so close to the Christmas holidays.

"Although our offer cannot be made unconditional until we have reached the 90% threshold, we feel we are close enough to make our position public.

"I have been impressed with the players, management and all the staff. Their total commitment to the cause is commendable.

"We are now fully focused on delivering stability to Coventry City and creating a strong football business for the future.

"The (FA Cup third-round) win at Blackburn was a great boost for the fans, we must also look to repay their tremendous support and loyalty during the past very, very difficult months."

Sky Blue Sport and Leisure has provided an extension to the offer period - until April 11 - for shareholders to give up their shares.

That will then enable Sisu to officially take control at the Ricoh Arena and release their promised £20million investment.

One of the first jobs will be to pay Southampton the money they are owed for summer signing Leon Best and lift the club's transfer embargo.

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