Credit: Coventry City
Coventry City Football Club, located in West Midlands, England, are currently in seventh place in the Championship after the completion of two rounds of matches, having won one and drawn one. The English club, managed by legendary Frank Lampard, announced that they have completed the purchase of the Coventry Building Society (CBS) Arena from Frasers Group on Saturday, August 23, following its periodic usage since its opening in 2005.
Ahead of their match against the Queen Park Rangers in the Championship, the confirmation of the latest development came from Coventry City. They had never owned the CBS Arena earlier due to their financial instability. However, they have now managed to take over their ground due to the support and belief from the fans apart from the financial backing at long last. They have landed this purchase aligning to the CBS Arena’s 20th Anniversary, an arena which hosted two decades of matches, milestones, and community events. Ownership is seen as a significant step for the club, bringing greater stability and control over its future operations.
This is more than a transaction. It is a statement of ambition and belief in Coventry: Club owner Doug King
Doug King, the Chairman and owner of Coventry City, expressed his feelings after the purchase of the CBS Arena. He said, "By bringing the Arena under the Club's ownership, we are safeguarding not only the present but for future generations. This is our home, and it now belongs to the football club and its supporters."
The club’s agreement to play at the CBS Arena was due to expire in the year 2027-28. It had been a difficult period for the supporters of Coventry as they have had four different home grounds and four different owners since 2005. The purchase of this new stadium will give a new glimmer of hope to the fans and help to build the long-lasting legacy of the club.
