Coventry have announced they have signed an agreement to continue playing home games at Coventry Building Society Arena that runs to the end of the season.
Earlier this month, the Sky Blues were handed an eviction notice by Frasers Group, owned by former Newcastle owner Mike Ashley, which took over the stadium in November.
A statement on the club’s official website on Monday said: “Coventry City Football Club is pleased to confirm that it has signed a new licence agreement with Frasers Group in order for the club to continue to play home games at the Coventry Building Society Arena.
“This represents a positive step forward for the club and its fans and we now look forward to establishing a constructive working relationship with Frasers Group.
“The licence that we have today signed will run until May 2023 and is subject to EFL approval, which we expect to be granted on Tuesday.
“Coventry City will now commence amicable talks with Frasers Group with a view to agreeing a longer-term licence for the club to play at the Arena.”
Prior to Frasers Group’s takeover, Coventry had an agreement, signed in March 2021, to play at the ground running to 2031.
The Sky Bet Championship outfit last Monday said they had received the eviction notice and been told they must agree a new licence, having previously believed the existing terms would continue unchanged following the Frasers Group takeover.
Frasers Group said that before acquiring the stadium it had issued a new licence mirroring the terms Coventry had agreed with the old owners, that the club chose not to sign it at that time, and that a revised proposal and new licence had been issued.
Coventry last month agreed, subject to EFL approval, to sell a majority stake to local businessman Doug King, who will buy an 85 per cent stake in the club.
The deal involves clearing all of their current debts and Coventry had been planning to make an equity bid to buy the stadium, following the administration of former owners Wasps, but lost out to Ashley.
They are set to play their next home match against Swansea on Saturday.
