The Sky Blues and owners SISU are due in the High Court in London tomorrow morning battling against the threat of an administration order.
The application has come from Arena Coventry Limited (ACL), who manage the Ricoh Arena on behalf of joint owners the Alan Edward Higgs Charity and Coventry City Council.
A spokesman for the club tonight said the decision to place the non-operating subsidiary into administration will not impact the running of the npower League One outfit.
The statement on the club's official website read: "It is important to stress that the football club itself is not under threat.
"This is merely a property subsidiary which owns no material assets and has no employees, on or off the pitch.
"The club can confirm that all staff wages, PAYE and all other creditor commitments will continue to be met as before by Coventry City Football Club Holdings.
"Unlike other instances of clubs being taken either wholly or partially into administration, there are no HMRC or VAT implications and the football club will continue to trade as normal without interruption.
"Our main objective now is to remain competitive on the pitch and give Steven Pressley and the playing staff our full backing and commitment."
Coventry currently sit eighth in npower League One, three points off a play-off place.
Pressley is desperate to see Coventry avoid administration in the High Court tomorrow and the subsequent 10-point deduction that goes with it.
The Scot, who only made the switch from Falkirk two weeks ago, admits it would be "mission impossible" regarding City's promotion hopes were they to suffer the penalty, with the club currently in eighth place in npower League One and just three points off the play-offs.
He said: "It's a concern, there's no doubt about it. My biggest concern is for the players and supporters because it's been 39 games of hard work and following the team. It's them who suffer the most. That's my biggest concern.
"I desperately hope that we find a solution and we can continue challenging for those potential play-off places.
"We can only wait until we hear the verdict and continue to prepare for Saturday's game in the hope we can still go on and gain promotion this year.
"The players and the supporters are the ones who really suffer out of this, that's why I'm desperate for some form of solution."
Coventry travel to Fratton Park on Saturday to tackle Portsmouth, a club who have twice suffered administration in as many years of late.
Fans from City's supporters' group, the Sky Blue Trust, will meet pre-match with their counterparts from the Pompey Supporters' Trust, who aim to complete their takeover of the south coast club soon.
The Sky Blue Trust hope tomorrow's court verdict does not bring administration but are desperately hoping for an end to the matter for the sake of the midlands club.
Jan Mokrzycki, media officer for the Trust, told Press Association Sport: "We just want to see a resolution, we just don't want the matter dragging on and on. We want it to come to a head and be sorted out so we can get back to football.
"Whatever the outcome is, we want the supporters in general to be taken more seriously by whoever the owners are of the club and the one thing the Trust is pushing for is more fan involvement and more fan involvement from an ownership point of view as well."
He added: "I think it's holding the whole club back, at the moment we're very close to the play-offs yet all we can talk about is when would be the best time to take a points deduction should it come. That's not what it should be about.
"We should be getting excited not worrying about points deductions, people coming in, people going etc. With all the off-field activity it's diluting that excitement.
"Hopefully, whatever happens tomorrow it will be a new start for the club, either with Sisu or new owners. Hopefully it will draw a line under the whole sorry business and we can move on."
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