The Sky Blues slipped out of the top flight in 2001 and almost went into administration at the end of last year before Ray Ranson saved the club with an 11th-hour takeover bid.

Coleman, who became the club's ninth permanent manager since 2001 when he replaced Iain Dowie in February, saw his side escape relegation from the Championship on the final day of the season despite a 4-1 defeat at Charlton.

"This season has emphasised how hard it is for clubs who fall out of the Premier League and how those spiralling effects eventually take hold of a club," said Coleman. "Those who come down are under pressure to go straight back up, but it's hard. You lose your better players and crowds get smaller as people start to lose interest. Then you lose the parachute payments.

"It is tough dropping out. Coventry have never even made the play-offs since they came down and three times we have been playing to avoid relegation on the last day of the season.

"Coventry should not be in this position. We have to improve in every department. We have taken the first step by staying in this division, now we have to put a team together to get into the top 10 and make an assault on the play-offs."