How much profit Mike Ashley made on Coventry City stadium sale as Sheffield Wednesday talk swirls | OneFootball

Mike Ashley agreed to the sale of the CBS Arena to Coventry City in 2025

Mike Ashley earned a hefty profit off of Coventry City in 2025 amid links to a takeover of Sheffield Wednesday.

The former Newcastle United owner purchased the Sky Blues’ home, the CBS Arena, when he was linked with buying the club in 2022.

While Doug King ultimately bought the Championship side, who are now competing for automatic promotion to the Premier League, the 61-year-old remained as owner of their stadium.

Coventry had a lease agreement that ran until the end of the 2028/29 campaign, which allowed them to continue playing in the ground.

But a deal between Ashley and King in 2025 saw the club take back control of their home, with their sights now set on bringing top flight football to the CBS Arena in 2026.

How much profit Mike Ashley made from Coventry City

It was confirmed in August last year that Coventry had bought the CBS Arena from Ashley, bringing the stadium back within the control of the club.

And it has also been revealed that Ashley made a hefty profit from the deal, which saw him paid £50 million for the stadium.

Frasers Group, the company owned by the 61-year-old, confirmed that they made a profit of £33.8 million on the deal after around three years of ownership.

This shows that Ashley paid a sum of roughly £16.2 million to buy the ground, compared to the £50 million he earned from its sale last year.

This proved to be an excellent piece of business for the former Newcastle owner, who has been linked with a potential return to football in recent months.

The Englishman took control of the Magpies in 2007, but relinquished control when he sold his stake to the Saudi Arabian Public Investment Fund (PIF) in 2021.

He has sought a route back to English football since then, which included his purchase of the CBS Arena in 2022, as he set his sights on potentially buying the Sky Blues.

However, English businessman King has now full control of the club and its assets following this £50 million agreement.

Mike Ashley’s Sheffield Wednesday pursuit

Ashley was linked with a potential takeover at Sheffield Wednesday in late 2025 amid their move into administration.

However, a preferred bidder was named in December that reportedly offered £32.5 million, which was more than the former CBS Arena owner was willing to pay.

It’s been claimed that Ashley is still waiting in the wings in the event that this takeover attempt collapses, but it remains to be seen whether he will get the chance to try to buy the Yorkshire outfit again.

Sheffield Wednesday have endured a difficult last 12 months, and financial difficulties have left them at the bottom of the Championship table, while Coventry are competing at the top end.

This year will mark the fifth anniversary of Ashley’s sale of Newcastle, who are competing in the Premier League and Champions League this season under Eddie Howe.

The Sky Blues will be hoping to play against the Magpies next season in the league, with Frank Lampard’s side in contention for automatic promotion following their purchase of their stadium from Ashley.