Coventry chief executive Paul Clouting expects the club's transfer embargo to be lifted by next week.
It was revealed in late March that the Sky Blues had been placed under the embargo, at the same time as they suffered a severe cash crisis and narrowly avoided entering administration.
But Clouting has revealed two of the three factors required by the Football League to lift the ban have been fulfilled, with the third set to be completed very soon.
"That information will be supplied this week and they should, very quickly, remove the embargo after that, which I hope will be either by the end of this week or early next week," Clouting told the Coventry Telegraph.
The news comes as boss Andy Thorn looks to use his first summer in the role to complete his rebuilding programme.
Skipper Lee Carsley, fellow midfielders Michael McIndoe and Isaac Osbourne, left-back Stephen O'Halloran and young goalkeeper Michael Quirke are all to be released, it has been revealed this week.
Fellow out-of-contract stars Marlon King, Keiren Westwood and Aron Gunnarsson, meanwhile, will shortly have to come to a final decision whether to accept their new deals at the Ricoh Arena or part ways with the Midlands club.
Copyright (c) PA Sport 2009, All Rights Reserved.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: https://www.givemesport.com/writeforgms