The Sky Blues were issued a statutory demand for £1.1million in unpaid rent earlier this month by the ACL, who manage the Ricoh Arena on behalf of joint owners the Alan Edward Higgs Charity and Coventry City Council.
But the club are unhappy with the price of the rent and have threatened to play their home games elsewhere, with a 90-mile round trip to Rushden & Diamonds' former ground Nene Park believed to be an option.
However, the two parties are now in negotiations.
A statement on the club's official website said: "The club is pleased to confirm that we are now in talks with ACL. However, whilst these talks are ongoing it wouldn't be right for us to make any further statements or to comment on any aspect of the situation.
"Since we received ACL's initial letter we have been asking for them to get round the table and negotiate with us.
"We want to conduct our negotiations in a professional manner, in confidence and not via the media. It is clear that this is what the fans want us all to do."
The Ricoh has hosted Coventry's home matches since 2005 when the club left Highfield Road.