Reports in the Media on Tuesday stated that the London based side had acquired the stadium.

Coventry responded with an open letter to the City Council and the owners of the arena, in an attempt to make sure that any takeover was done in the best interest of the club.

They also released a statement to their fans on their official website, assuring fans that they would be doing everything to protect the club's future.

"We, like you, know nothing about any deal between Coventry City Council and Wasps, other than what has been reported in the press. We've not been contacted about this deal." the statement said.

"But, we can reassure you that we have a deal with the Ricoh which secures CCFC's right to play our home games up until the end of the 2015/16 season, with an option to extend for a further two years.  This means, if the deal goes ahead with Wasps, we have a contractual right to play our home games at the Ricoh."

"However, we share your concerns about the potential effect on the club and specifically how the pitch will be kept up to a standard required for our style of play and we need to know that the club will not be adversely affected by any change in ownership of the Arena."

"None of this changes the fact that we remain totally determined to deliver a strong and stable long-term future for the club and you, our fans. For the first time in years, we are pleased to say the club is financially stable thanks to hard work, tough and sometimes unpopular decisions."

"We share your ambitions for Coventry City Football Club. We want to see the club succeed on and off the pitch and this requires long-term planning to build a sustainable and solid club. As part of this commitment, we will develop and progress local talent through our Academy to the first team."

Fans will no doubt still be worried despite the club's attempts to reassure them, given that they only returned to the Ricoh Arena at the start of September.

They played all their home games last season at Northampton Town's Sixfields Stadium, after falling out with the Ricoh's owners over rent.

They managed to come to an agreement earlier this season however, and made their return last month.