COVENTRY City FC have signed an extended licence with Frasers Group PLC which will enable the club to play at the CBS Arena for the next five years.
The new licence agreement comes as both both parties are committed to working towards the arena becoming the long-term home of Coventry City FC.
Michael Murray, CEO of Frasers Group, said: “Following our recent acquisition of Coventry Building Society Arena, we are committed to investing into the Arena and the local community, and therefore supporting its future growth.”
Doug King, owner of Coventry City FC, added: “We are delighted to sign this agreement, which we know will be welcomed by Sky Blues fans.
“This agreement will help to provide a period of further stability whilst we continue to build a positive future for Coventry City Football Club.
“The licence will enable us to play at our home, the Coventry Building Society Arena, for a minimum of five years and we will continue to positively engage with Frasers Group with regard to the longer term at the Arena.”
The club’s existing licence to play at the arena was due to expire at the end of the current season in May.
It is envisaged that the new licence agreement will provide the respective parties with flexibility to continue to refine their future strategies at the Arena with a view to entering into a long-term partnership.
Coventry City Council has also welcomed the news.
Council leader, Coun George Duggins, said: “I know I speak for the city when I say I’m delighted the football club has been able to reach an agreement with the owners of the CBS Arena to secure its future at the stadium.
“My position remains unchanged in that we are committed to work with partners to see a continued thriving regeneration of the area around the CBS Arena and also a successful football club that plays its games there.”
Coun Gary Ridley, leader of the opposition Conservative Party, added: “This is great news for Sky Blues fans as it gives the club the stability that we have all been craving for some time now.
“It is an exciting time for the football club with the team, and its fans, enjoying such a successful season and today’s announcement will add to that feel-good factor ahead of the big game tomorrow.”
Things looking good on the pitch too
The announcement comes as the Sky Blues are on the brink of securing a play-off place which will give the club the chance of going up to the Premier League.
Coventry beat West Midlands neighbours Birmingham City 2-0 at the CBS Arena yesterday, putting the Sky Blues in fifth place on 69 points.
Viktor Gyokeres set up the first goal for Josh Eccles who scored his first senior goal after three minutes. Gyokeres then sealed the win scoring from the penalty spot in the second half.
It means destiny is in the team’s own hands and a win against fourth place Middlesbrough on the final day next Sunday will secure the play-offs for Coventry.
The Sky Blues may not even need a win if other results go their way.
Blackburn Rovers, currently in ninth, play their a game in hand against third place Luton Town on Monday. If they fail to win that, Mark Robins’ team would only need a point to secure the play-off place.
