Coventry City's stadium bought by former Newcastle owner's company

Earlier today the Championship club announced that they were planning to submit their own bid to buy the ground.

Coventry City's stadium the CBS Arena has been bought by Mike Ashley's company Frasers Group.

They previously owned Newcastle and will now run the Sky Blue's home ground.

A spokesperson for Frasers Group said: "We are delighted with the acquisition of the CBS Arena which will complement the Group’s existing portfolio of brands and investments. Through the acquisition, we are pleased to have been able to secure a long-term future for the Arena, protecting jobs and supporting the local community. In particular, we are looking forward to working with Coventry City Football Club."

Earlier today the Championship club announced that they were planning to submit their own bid to buy the ground.

A spokesperson for the Coventry Building Society Arena said “We are delighted that Frasers Group have acquired the arena. This will see the doors of this flagship venue remain open and continue to play a strategic part in the City of Coventry’s economic tourism plan.  It is a great result for everyone who uses the venue for business, sport, and music as we now can continue with what we do best and that’s providing hospitality at is best.

“We would like to thank all of our staff, suppliers and tenants who have worked so hard to ensure that it has been ‘business as normal’ during the past weeks. Our thanks also go to our key stakeholders, Coventry City Football Club, Delaware North UK, Coventry City Council and Coventry Building Society, for their ongoing support and collaboration."