Just a year ago it seemed that Coventry City would be leaving CBS Arena any day now. However, fate has proved perverse and it is the rugby club that formerly owns the stadium that must find a new home.

Problems in Coventry

In December 2022, we reported on the turmoil surrounding the users of the Coventry Building Society Arena (formerly the Ricoh Arena). At the time, according to UK media, The Sky Blues were forced to move out of the arena in use because the new owners considered the existing commitments to be invalid. The venue had previously been owned by Wasps RFC since 2014, but financial problems ending in bankruptcy meant they were forced to sell the arena.

The stadium has been acquired by the Frasers Group. A consortium owned by Mike Ashley - owner of Newcastle United between 2007 and 2021 – has just purchased 100% of the rights to the property from Wasps for £17m. Immediately after the deal was finalised, however, the new owner of the venue called on the popular The Sky Blues to vacate the arena stating that the ten-year agreement between the football club and the rugby club was, in light of the new ownership structure, no longer valid. Meanwhile, Wasps have withdrawn from league competition as they have completely lost their liquidity.

© Gerhard Rudolf

Coventry City's agreement with stadium owners

Eventually Coventry City came to an agreement with the new owners of the stadium. This was achieved before the eviction process, which had dragged on for several months, was completed. The agreement, reached in April 2023, will see the currently 20th-placed EFL Championship team continue to use the CBS Arena for a further five years. It is worth mentioning that club owner Doug King also sought to acquire the rights to the stadium by offering £25m for it – £8m more than the Frasers Group. However, the determination and shrewdness of the former owner of the popular Magpies proved decisive here, as well as timing - the court ruled that King had made his bid too late.

The agreement between the club's owners and the stadium owners includes a provision that Coventry City will be the sole user of the facility for that time. This means that the Wasps RFC team, which is being rebuilt, is unlikely to return to the CBS Arena. Media outlets in the isles are reporting that the new team management have submitted plans to build a new venue in Kent County. Club officials are actively working with Sevenoaks District Council to find a suitable site. Currently Wasps use Sixways Stadium courtesy of Worcester Warriors. However, they are hoping that with the repayment of liabilities, the planned development can be initiated.

© Gerhard Rudolf