The Telegraph-led appeal to raise a performance security bond of up to £100,000 stood at £52,597 by yesterday's noon deadline.

And the RFU has acknowledged the over-whelming support given to the appeal by the people of Coventry and the passionate feeling on the street that the famous club and an important piece of the city's sporting history should not be allowed to die.

RFU tournaments and competitions director Terry Burwell said: "Coventry's participation in Division One next season is confirmed.

"The bond was a fundamental requirement, and the way in which the supporters and people of the city have committed to this can only be applauded.

"The board of First Division Rugby has welcomed the decision, not only in terms of the number of teams in National One but also the fact that a club of Coventry's standing will continue to participate in their league."

The hard work is not over, however, and the appeal will remain open until the £100,000 target is achieved.

Mr Burwell added: "We hope that people will continue to contribute to the bond and that this good news will help to achieve the ultimate goal."

Club historian and long-serving official John Butler is one of three appeal fund trustees who will now work with the RFU to put the bond, which will stand for a period of two years, in place.

"To raise over £50,000 in such a short space of time and to do it largely through fans and the general public of Coventry, as opposed to the business sector, is a remarkable achievement," said Mr Butler.

"It is true testimony to the goodwill that exists for both the club and rugby union in the city.

"We all offer a big vote of thanks to everyone who has contributed in whatever way, and hopefully the club can continue to prosper and go forward on the field and repay all the faith placed in them."

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