Coventry City are "positive" over their hopes of bringing in Falkirk manager Steven Pressley as their new boss.
Personal terms have been agreed and everything now hinges on Scottish First Division side Falkirk agreeing to accept a suitable compensation payment.
"We've held very positive talks with Steven Pressley and Falkirk, and they are progressing well," said Sky Blues development director Steve Waggott.
"We will continue working to reach a conclusion good for all parties."
- Born Elgin, October 1973.
- Won 32 caps for Scotland.
- Played for Coventry City in the 1994-95 season, scoring one goal - against Man Utd.
- Also played for Rangers, Celtic, Dundee Utd & Hearts.
- Was assistant manager at Falkirk before being appointed boss in February 2010, taking over from Eddie May, with the club three points adrift at the foot of the Scottish Premier Division table.
- The Bairns are fifth in this season's Division One and have also reached the Scottish Cup semi-finals, in which they are due to play Hibs on 13 April.
Falkirk gave the Sky Blues permission to talk to Pressley on Wednesday with regards to the club's vacant manager's job.
But the financially-challenged Midlands club were already aware then of the compensation that would be required to lure Pressley away from central Scotland.
The imminent arrival of a new manager (a press conference for Pressley is expected to be held on Friday), and the costs involved, would now appear to contradict the rumours that Coventry are close to administration.
Following the resignation of the club's vice chairman John Clarke on Monday,
there had been suggestions that administrators were about to be appointed - or that, in the worst-case scenario, the club might even be liquidated.
after a denial by Clarke on Tuesday,
the League One club's chief executive Tim Fisher has also spoken to BBC Coventry & Warwickshire to reject those claims.
Coventry have been without a manager for almost three weeks
since Mark Robins left the Ricoh
for Huddersfield Town on Valentine's Day.
Since then, Coventry have won three times on the road under caretaker boss Lee Carsley, with two home defeats sandwiched in between, going into Saturday's trip to relegation-haunted Scunthorpe.