Coventry City sign new CBS Arena lease until end of season after receiving eviction notice from Mike Ashley’s Frasers Group

Coventry City have signed a new lease agreement which will allow them to continue playing at CBS Arena until the end of the season.

The Championship side received an eviction notice on December 5 from the stadium’s new owners, Mike Ashley’s Frasers Group, meaning a new license had to be agreed.

Frasers did not believe he was bound by the previous ten-year deal with the stadium’s former owners, Wasps, which was signed in March 2021.

However, an agreement has now been reached to allow the Sky Blues to remain at CBS Arena this term.

A statement from Coventry read: “The license we have signed will last until May 2023 and is subject to EFL approval, which we expect to grant on Tuesday.

“This represents a positive step forward for the club and its supporters. We now look forward to establishing a constructive working relationship with Frasers Group.

“Coventry City will now enter into amicable talks with Frasers Group to agree a longer term license for the club to play at the Arena.”

The club is also in the process of changing ownership and has only ever rented the land which was built for it in 2005.

It was hoped they could take over as stadium owners after Wasps took over from the Gallagher Premiership on October 18.

But, despite potential new City owner Doug King making a bid of £25m, the courts have ruled the offer came too late – and allowed Ashley’s group to take over.