Coventry City complete CBS Arena purchase - Mike Ashley sends "fantastic custodian" Doug King message | OneFootball

The Sky Blues are now the sole owners of their stadium, and former CBS Arena owner Mike Ashley has sent a parting message to the Sky Blues.

Coventry City have completed the purchase of the Coventry Building Society Arena from Mike Ashley, in what is a landmark day for the club.

The Sky Blues are riding a positive wave of momentum at this moment in time, with Frank Lampard's side looking strong on the pitch.

Unbeaten in all competitions to start the 2025/26 season ahead of their clash with QPR this afternoon, City supporters are growing in confidence that something special could be brewing in the West Midlands.

Coventry City complete CBS Arena purchase

Whatever the future may hold for Coventry City, they can now say that they will write their future in a home of their own.

That's because the club have announced via their official club website on Saturday that a purchase agreement has been completed between the club and former CBS Arena owner and Frasers Group founder, Mike Ashley.

In a statement released via the club website, the club said: "Coventry City Football Club is delighted to announce that it has completed the purchase of the Coventry Building Society Arena from Frasers Group, marking a pivotal moment in the club’s history.

"The announcement comes in the week of the 20th anniversary of the Arena’s opening, a stadium that has played host to two decades of Sky Blues memories, from unforgettable victories to moments of resilience and unity.

"For the first time since the ground was built, the Club now owns its home.

"This milestone secures long-term stability, safeguards the future, and opens new opportunities for growth on and off the pitch."

Outlining how football has a knack for poignancy and seemingly authored coincidences, today's opponents QPR were indeed the first team to play Coventry at the then-named Ricoh Arena in August 2005.

It was a 3-0 win to the Sky Blues that day, so as a new chapter is written in the club's history, will history repeat itself in the West Midlands this afternoon?

Doug King sends passionate Coventry City message

Following news of the CBS Arena purchase agreement being completed, Coventry City owner and chairman Doug King has sent an impassioned message to Sky Blues supporters.

Speaking via the club website, King said: "Today is a defining day for Coventry City Football Club.

"For too long the question of stadium ownership has cast uncertainty over our future. 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.

"This is more than a transaction. It is a statement of ambition and belief in Coventry. The Arena will always be a symbol of our city’s strength and creativity, and as owners we can invest in facilities, fan experience, and wider opportunities for our community. We are proud to finally call this stadium our own.

"On behalf of everyone at the club, I would like to thank our supporters. Through years of uncertainty including times when we had to play in other cities and towns, your loyalty has been unwavering.

"This moment is as much yours as it is ours.

"I am also grateful to Frasers Group who have negotiated this agreement in good faith and I wish them well for the future.”

Ex-CBS Arena owner Mike Ashley sends parting message to Coventry City and Doug King

Having become the owner of the CBS Arena after being named as the preferred bidder in a £17m deal back in November 2022, Mike Ashley has now handed over the stadium to Coventry City.

In a parting message to both the club and Doug King, the former Newcastle United owner said: "Doug King has been a pleasure to work with and he is a fantastic custodian of the club.

"With him at the helm, I am sure Coventry City FC has every chance of becoming a Premier League club soon.”