Coventry City Football Club has officially announced the completion of their purchase of the Coventry Building Society Arena from the Frasers Group. This acquisition marks a significant turning point in the club's history, particularly as it coincides with the 20th anniversary of the stadium's opening. For the first time since the stadium was built, Coventry City now owns its home ground.

Doug King, Chairman and Owner of Coventry City, described the purchase as a "defining day" for the club. He emphasized that stadium ownership had been a long-standing issue that cast uncertainty over the club's future. By securing ownership of the Arena, the club is safeguarding its present and future for generations to come. King stated that the Arena is now the home of the football club and its supporters.

King also highlighted the significance of the transaction beyond a mere business deal, calling it a "statement of ambition and belief in Coventry". The Arena will remain a symbol of the city's strength and creativity, and as owners, the club can now invest in facilities, fan experience, and broader community opportunities. King expressed his pride in finally being able to call the stadium their own.

The purchase brings an end to 20 years of uncertainty and disagreements with previous owners, which led to two instances of ground sharing away from the city. It paves the way for a secure future for the Sky Blues. Complete ownership will provide the football club with new revenue streams, resolving issues with previous owners regarding fair profit sharing from food, beverages, and car parking on match days, as well as annual rental charges. The club will also gain revenue from the stadium's year-round events, including conferences and concerts.

King expressed his gratitude to the club's supporters for their unwavering loyalty through years of uncertainty, including periods when the team had to play in other cities and towns. He acknowledged that this moment belongs to the supporters as much as it belongs to the club. He also thanked the Frasers Group for negotiating the agreement in good faith and wished them well for the future.

The announcement has been met with enthusiasm, with many viewing it as a pivotal moment that secures long-term stability and opens up new opportunities for growth both on and off the pitch. The Sky Blues' agreement to play at the CBS Arena was set to expire at the end of the 2027-28 season. The purchase marks the end of a torturous period for supporters since leaving Highfield Road in 2005, during which they experienced four stadium owners, four home grounds, three football club owners, and numerous protests.