Chief executive Tim Fisher has said the club has played its last game at the Ricoh Arena following the bitter rent row with stadium operators Arena Coventry Ltd.
The club plan to groundshare with another club, currently believed to be Walsall, for three years while they build the new ground, with their plans to be presented to the Football League at the start of June.
Tim Fisher told the Coventry Telegraph: “People have to understand we do not posture, we do not threaten, because that is not how you do business, you only do business in good faith. Always.
“We have started the process of procuring land so that we can shift the new stadium build forward at a pace. The stadium will be in the Coventry area in accordance with Football League rules.
“We have left the Ricoh Arena. We were told categorically by ACL and by the council that there was no commercial deal to be done and in actual fact they would only ever work with the administrator."
Ricoh Arena owners ACL claims the door remains open for Coventry City and they have not been kicked out.
Owners Sisu placed Coventry City FC Ltd in administration hours before ACL were due to ask the High Court to do the same thing as they chased £1.3million in unpaid rent. CCFC Ltd holds the lease agreement with ACL, while the club continued to operate as Coventry City Holdings Ltd.
Administrator Paul Appleton’s initial report, published on Thursday, was inconclusive with Appleton unable to confirm the whereabouts of the Golden Share, which gives City the right to play in the Football League and FA competitions.
Both Walsall and Coventry are yet to directly comment on reports of a possible groundshare but are expected to release statements closer to the reveal of City's plans, should a deal be agreed.