He said: "He's got a problem on his hands because although he knows what he needs to do with the squad and the club, finances are frustrating him because there's no money at Coventry.
"I feel for Peter and if people hang in there I am sure he will succeed. It's patience which is needed, not panic, and I firmly believe if Peter was still at Leeds we wouldn't have been relegated from the Premiership at the end of last season."