A statement from Arena Coventry Limited (ACL) has confirmed a preferred bidder, believed to be former Newcastle owner Mike Ashley, has been identified.
It is a relief for Coventry with the Sky Blues hosting Wigan and QPR before the season breaks for the World Cup on November 12.
Wasps, who also play at the stadium, went into administration last month and have been suspended and relegated from the Gallagher Premiership.
"Arena Coventry Limited (ACL), Arena Coventry (2006) Limited and IEC Experience Limited have confirmed that they have applied to the Court for the Companies to be placed in administration," a statement on their website read. "We anticipate that the administration orders will be made in the forthcoming weeks.
"The Companies and the proposed administrators from FRP Advisory have run an accelerated sales process to sell the business and assets of the Companies and have identified a preferred bidder.
"The Arena will continue to trade as normal. We would like to thank all the working parties involved in helping the Companies get to this stage and we are delighted that the doors will remain open to this flagship venue.
"Arena Coventry Limited (ACL) has confirmed further updates will be provided in due course."
The Sky Blues beat Blackburn 1-0 at the Arena on Tuesday to climb out of the Sky Bet Championship relegation zone. They had been exploring alternative arrangements ahead of the game before it went ahead.