On Thursday morning, the Sky Blues announced that they had made the decision to sack the longest-serving manager in the Championship.
Although Coventry have accumulated seven points from their last four matches, it has been deemed that sitting in 17th position in the table after 14 games is unacceptable.
Assistant manager Rhys Carr has been promoted to the role of interim head coach ahead of Saturday's fixture at leaders Sunderland.
The club's hierarchy are then expected to go through the process of having a permanent successor in place for after the international break, when Coventry play host to Sheffield United on November 23.
Bloomfield emerges as Coventry option
According to The Guardian, Coventry have already included Wycombe Wanderers boss Matt Bloomfield as one of their 'leading contenders'.
The Chairboys currently sit at the top of the League One table after putting together a run of nine wins and two draws from their most recent 11 fixtures.
Earlier this week, Wycombe ran out 5-0 winners away at Stockport County to strengthen the feeling that they could rival Birmingham City and Wrexham for the third-tier title.
With Wycombe having only finished in 10th place in 2023-24, this season has seen a significant improvement in their results and performances.
Bloomfield now has a 46.7% win percentage from his 93 matches in charge of a club where he spent 19 years of his playing career.
Prior to Wycombe travelling to Wigan Athletic on Saturday afternoon, Bloomfield and the club's board may be left with a decision to make regarding his future.
Who are the bookmakers saying?
Despite the alleged developments regarding Bloomfield, the 40-year-old is only viewed as third favourite with the bookmakers behind Frank Lampard and Lee Carsley.
Former Chelsea boss Frank Lampard is out of work and has recently been suggested as a candidate for the managerial job at Roma should it become vacant.
Meanwhile, former Coventry midfielder Carsley is about to take charge of his final two matches as interim England manager before handing over the reins to Thomas Tuchel.