The lifelong Sky Blues fan, who quit the board last month over concerns about the way the club is being run by owners Sisu, insists major new investment is the only way to take Coventry forward.
"We have got to move forward and we must all now work to bring in investors that are capable of moving the club forward and capable of buying the stadium," Hoffman told the Coventry Telegraph.
"And yes, I am already talking to investors and have got some irons in the fire on that.
"I had one conversation with investors yesterday (on Monday) and I am seeing more today so I have got some good momentum."
He added: "I am very confident that there is a good proposition for someone that owns one of the best stadiums in the country and a football club with great potential.
"And investors are interested in that opportunity, both in the UK and abroad, but it is not easy to pull off."
Source: PA
