King: Arena deal is a statement of ambition

KING BUYS STADIUM ON 20th ANNIVERSARY OF FIRST GAME AT ARENA

- By ANDY TURNER Sky Blues Reporter

COVENTRY City owner Doug King has purchased the CBS Arena from Mike Ashley's Frasers Group - finally uniting the stadium and the football club after two decades.

This deal coincided with the 20th anniversary match of the Sky Blues’ inaugural game at their home ground against QPR on August 20, 2005.

As fate would have it, the Hoops were Saturday's visitors to the Coventry Building Society Arena, formerly known as the Ricoh Arena, and the Sky Blues produced a performance to celebrate with a dazzling 7-1 victory.

King’s acquisition puts an end to 20 years of uncertainty and discord with previous owners, which led to two groundshare relocations away from the city, and paves the way for a secure future for the Sky Blues.

The purchase will also generate new revenue streams for the football club - a point of contention for former club owners Sisu, who felt they were not receiving a fair share of profits from food, beverages and car parking on matchdays, amongst disputes about their annual rental charge.