Former England international Joe Cole is poised to join the Tampa Bay Rowdies.
Coventry boss Tony Mowbray has confirmed the 34-year-old will move to the North American Soccer League side when his contract expires in the summer.
Three-times Barclays Premier League winner with Chelsea, Cole joined the Sky Blues on a free transfer from Aston Villa in January but has told Mowbray he is heading to Florida.
"Joe's going to join Tampa Bay and it might happen pretty quickly if he can get international clearance etc," Mowbray told the Coventry Telegraph.
"I would have liked to have kept Joe who I think has proven his fitness and worth to the team. He's a fantastic character around our building - no airs and graces, not looking for favours or extra days off.
"He's a top guy and he has shown his football ability. It's come probably a little bit late in the day that I have felt as if I could trust him to play in the centre of midfield alongside John Fleck.
"I think Joe can help us control football matches but he's made his decision for his family, I think, and we wish him well because he's been fantastic for our dressing room and this football club."
League One club Coventry City have signed winger Blair Turgott on a free transfer.
Councillors in Coventry will make a decision on whether Premiership rugby club Wasps' proposal to take over the Ricoh Arena operating company ACL in a £30million deal.
The council currently share the ownership of the stadium with the Alan Edward Higgs Charity and would retain 10 per cent if the deal goes ahead.
Current tenants, League One side Coventry City, only returned to the stadium in September following a 14-month absence.
If the councillors grant the request it would leave the Sky Blues in limbo, as they may once again be homeless.
Wasps currently play their home fixtures at Adams Park in High Wycombe, meaning it would be a sizeable relocation for the club.
A decision will be made in a meeting on Tuesday at 2pm.
The Football League has said it is "dismayed" over the continuing disagreement between the the owners of the Ricoh Arena and Coventry City's administrators that has left the club on the brink of liquidation.
Earlier today, the owners of the Ricoh Arena, Arena Coventry Limited (ACL), rejected proposals drawn up by the club's adminstator that would of brought the club out of administration.
Football League Chairman, Greg Clarke said: "Once again, it is a source of immense frustration to everyone involved that the two parties in this dispute have failed to reach any agreement. The Board is dismayed at the level of intransigence being shown."
The association insisted that it would continue its efforts to get the parties to enter "meaningful negotiations" so that Coventry City can return to Coventry "at the earliest opportunity".
Coventry City FC Ltd, the part of the club expected to go into liquidation, will see its share of the club transferred to Otium.
The Football League says the transfer to the club's preferred bidder will take place on the basis that the club accepts a 10 point deduction for the 2013/14 season.
The Football league has confirmed that Coventry City will be deducted 10 points for the next season.
More to follow.
Coventry City supporters group, the Sky Blue Trust, have said they are "appalled" at the latest turn of events which has put the club on the brink of liquidation.
The group also attacked the Football League for their perceived failure to support the supporters of the club.
Coventry City's former Premier League stars Darren Huckerby and George Boateng expressed their shock at news that the club is on the brink of liquidation: