Coventry City buys CBS Arena in huge move for the club having bought it from Frasers Group at pivotal time.
The Coventry Building Society Arena, Coventry City’s home stadium, has been fully purchased, the team announced.
Frasers Group sold it to the Sky Blues, who claimed it was a “pivotal moment” in the club’s history.
Coventry City’s chairman and owner, Doug King, stated that the club might be protected “not only [for] the present but for future generations” by buying the CBS Arena.
“This is more than a transaction. It is a statement of ambition and belief in Coventry,” he said.
The statement was made the week before the arena’s 20th anniversary of opening. The Championship team said that “long-term stability” would result from the move.
King said the ownership came with “immense pride and great joy” and thanked supporters for their “unwavering” commitment over years of uncertainty.
“As owners we can invest in facilities, fan experience, and wider opportunities for our community. We are proud to finally call this stadium our own.”
Although the head of the Coventry Rugby Club referred to the plans as “unfeasible,” it was revealed last month that King had been considering the prospect of constructing a new stadium with 40,000 seats on the site of Butts Park Arena.
At the conclusion of the 2027–2028 season, the Sky Blues’ contract to play at the CBS Arena was set to expire.
Since they left Highfield Road in 2005, supporters have endured a terrible period. They have had three football club owners, four stadium owners, four home fields, and innumerable demonstrations over that time.
However, the stadium, which was constructed for Coventry City, is now officially the club’s.
Although it was previously bought for £17 minutes, the club has not disclosed the amount it paid Fraser Group By tycoon Mike Ashley, 2022.
The host of the All Things Sky Blue podcast, Mark Smith, expressed his excitement for the club’s future and his anticipation of bringing in more talented players.
“The ground was built for Coventry City Football Club, this is our ground. Hopefully now we can kick on and get back to where we belong in the Premier League,” he said.
The Sky Blues are hosting Queens Park Rangers at the CBS Arena at 15:00 BST, and coincidentally the visitors were the first away team to play at the stadium in 2005.
“This weekend they return as Coventry celebrates not just an anniversary, but a new era of ownership and ambition,” Coventry City said