A local consortium made a takeover bid in excess of £7m - Sky sources

Coventry City owners SISU have dismissed the latest takeover bid for the club, calling it "little more than an effort to undermine and distract from the club's on-pitch performance."

Sky Sports News understands the new offer from local businessmen Gary Hoffman and Joe Elliott is in excess of £7m - and was turned down by the club's owners on Monday.

1:07 Highlights of the Sky Bet League Two match between Peterborough United and Coventry City. Highlights of the Sky Bet League Two match between Peterborough United and Coventry City.

In a statement released to Sky Sports News, SISU said: "For the avoidance of doubt, yet again this was an extremely low bid.

"It has little credibility and as usual provides no proof of funds nor confirmation of the investors/consortium members."

Joy Seppala, head of SISU, the owners of Coventry City, said she is confident of saving the club earlier this month

The consortium released a statement on Wednesday saying: "We have offered to meet with (head of SISU) Joy Seppala several times but this offer has not been taken up.

"Given the circumstances of the club, we regard it as very generous. The offer was supported by the ability to demonstrate proof of funds for the acquisition."

The news comes as Coventry fans head for London ahead of planned protests on Thursday outside the EFL headquarters and SISU's offices.