The Current Situation At The CBS Arena
The operating companies that run the Coventry Building Society Arena have applied to enter administration. Arena Coventry Ltd (ACL), Arena Coventry (2006) Ltd and IEC Experience Ltd expect administration orders to be made “in the forthcoming weeks”.
Coventry City were allowed to play Tuesday's home Championship game against Blackburn Rovers at the ground but a spokesperson for Arena Coventry Ltd has confirmed a preferred bidder has been identified: “The companies and the proposed administrators from FRP Advisory have run an accelerated sales process to sell the business and assets of the companies and have identified a preferred bidder. The Arena will continue to trade as normal. We would like to thank all the working parties involved in helping the companies get to this stage and we are delighted that the doors will remain open to this flagship venue. Arena Coventry Limited (ACL) has confirmed further updates will be provided in due course.”
Coventry are due to play two more fixtures at the CBS Arena before the break for the World Cup in Qatar, against Wigan and QPR on November 8th and 12th respectively, with Coventry City manager Mark Robins saying he hoped they would go ahead as scheduled.
The ex-Newcastle owner Mike Ashley is believed to be an interested party in acquiring the stadium. He sold his stake in Newcastle to the Saudi Arabia-backed Public Investment Fund for £305m in October 2021, having paid £134m for the club in 2007. Ashley was reportedly interested in buying Derby County after they went into administration in September 2021, but the now League One club was bought by businessman David Clowes, and Ashley looks to have turned his attention to Coventry’s home ground.
Coventry City Council own the freehold for the stadium, which was known as the Ricoh Arena when the Sky Blues first played there in 2005. The ground was acquired by Wasps Rugby Union Club in 2014 but they went into administration last month and have been suspended for the rest of this season and relegated. However, their administrators have accepted an offer to buy the club from a consortium including members of Wasps Legends.
Council leader George Duggins told BBC CWR that the stadium would continue to operate over the next few weeks, so Coventry City can fulfil their fixtures. He said that allowing Wasps to move into the Arena eight years ago was “the right thing to do” at the time, but the council was now focused on securing its future. The English Football League has commented that it would “remain in regular contact with Coventry City as it seeks clarity for fans and visiting clubs regarding upcoming fixtures”. The EFL had previously stated it was “supportive in principle” of the Sky Blues making a temporary move, should it become necessary, to “avoid further disruption to the fixture schedule”.
Coventry City Football Club have already had two spells playing home games away from the Arena in the past, ground-sharing at Northampton Town and Birmingham City because of rent disputes.
