United, who play in the Women's Championship, have endured a season like no other having been handed a ten-point deduction in January for going into administration, leaving their status in the division in serious doubt with the club then left on -4 points.
The club were famously just ten minutes away from going out of business before West Midlands businessman Lewis Taylor came in to save the club.
Coventry went into the last match of the season two points from safety with a winner-takes-all clash with Watford deciding the fate of both clubs.
Played at Vicarage Road, the Hornets retained control of the match and looked destined to earn a the draw they needed to retain their Championship status and relegate Coventry, however a late free-kick changed things in dramatic fashion.
Positioned more than 30 yards from goal, Mollie Green stepped up and fired a vicious free-kick into the top corner of the Watford net to earn a crucial win that not only saw Coventry secure their Championship position for another season, but relegated their opponents in the process.
Speaking to the BBC, Green said: "I didn't even see it hit the back of the net - I think I just knew it was going in.
"I hit it really sweetly and the rest is history.
"I'm speechless. I can't believe we've done it. We've put absolutely everything into it.
"We've got a massive belief and togetherness and it paid off today."
Coventry's manager Jay Bradley also spoke of his delight over staying up, adding that "the whole football community wanted us to win."
He said: "When the final whistle went we had people crying, people running on the pitch, because it means so much.
"I think football wanted us to do it. The whole football community wanted us to win.
"We should never have been in this position - we should never have come into the final day with any hope. Then to win it in the fashion that we did just shows everything about us, it tells you that we never know when we're beaten.
"This journey has been a rollercoaster and hopefully we'll never have to live through it again. Trust me, it takes its toll.
"I'm so proud of the players. To keep digging every single week in the manner that they did - they deserve this moment. It's harsh on Watford but we deserve it.
"I'm elated but I also probably need to go and cry somewhere."