All parties involved in the rumoured takeover of Coventry rugby club last night moved to play down speculation that the National One club was about to be sold.
The club's chairman, Keith Fairbrother, categorically denied that he was about to sell Coventry and its impressive new stadium at the Butts Park Arena.
While the man reported to be interested in purchasing the team, Oxfordshire businessman Andrew Green, declined to be interviewed, I understand that Coventry are just one of a number of clubs in which he is considering investing.
The speculation came after a consultant acting for Green confirmed that the former operations director of Henley-based Leapfrog Consultancy Group had instructed him to identify clubs in the UK offering investment and sponsorship opportunities.
"The club definitely hasn't been sold," said Fairbrother who added that he was looking for investment to help develop their ground to Premiership standards.
The first part of work has been completed in the shape of the East Stand but further plans have been put forward to build a second grandstand, a multi-story car park and flats, valuing the current site at around £5 million.
However, Fairbrother did admit that he is talking with a number of parties over the further development of the Arena site, which is leased from Coventry City Council for the next 124 years.
"We've completed phase one, we are moving on to phases two, three and four, and it's no secret that we have been talking to developers," he said.
"We are rugby people and it is obvious that we are going to talk to specialist people which is how rumours start.
"The property market is changing all the time, and what was right before may not be right now. Andrew Green did approach us some time ago over a car sponsorship deal and he is an entrepreneur like a lot of other people. He has expressed an interest, but there is no deal.
"We are trying to develop the site, which may mean we venture into partnerships with people.
"We are trying to take Coventry RFC to the next stage, winning the league we are in and fulfilling the criteria to get into the Premiership.
"It's a big undertaking, but we are not for sale at this stage."
Green, who has now left Leapfrog, was a co-founder of the technical recruitment specialists who are one of Henley Rugby Club's sponsors and he has also invested in National Three South side Reading.
His name has been connected with Coventry before when, at the same time that the Leapfrog sponsorship deal with Henley was brokered, he offered a similar package to the Midland outfit which was turned down.