Speculation has been rife over the last week that the multi-millionaire Irishman was set to buy-out Richardson’s majority shareholding in the club and inject the necessary millions to steer them away from the relegation zone. In the last few seasons the English club have had to sell their best players so now find themselves at the wrong end of the Premier League.

However, Richardson yesterday denied any approach by Jordan and a spokesman for the race team has echoed that denial. "Eddie Jordan is a Coventry City fan, but any rumours you may have heard about him investing in the club are totally unfounded. He enjoys football but is not interested in making any financial investment in it."

Richardson agreed, “It is absolute news to me and I would have thought it would be highly unlikely. Eddie Jordan has got plenty to do with his own interests and I do not think he has the remotest thoughts in his mind of doing anything like that. I see a lot of Eddie and it has never once been a topic of conversation between us."