CBS Arena team positive about new ownership

Article posted by Coliseum, December 6^th, 2022

Image: Coventry Building Society Arena

The team at Coventry Building Society Arena – a complex in Coventry, England (UK) – is looking forward to a new era under its new ownership – Mike Ashley’s Frasers Group.

‘Coventry Building Society Arena’ stated that the sale of the multipurpose venue in the month of October provides long-term stability and a platform for future investment at the regional landmark, which hosts sport, entertainment, conferences, and exhibitions.

The sportswear tycoon’s retail group secured the CBS Arena lease after the appointment of administrators paved the way for the completion of its £17 million purchase of the stadium operators’ business and assets.

Shirebrook (UK)-based The Frasers Group plc is a British retail, sport and intellectual property group, named after its ownership of the department store chain House of Fraser. The company is best known for trading predominantly under the Sports Direct brand which operates both physical outlets and online.

The Coventry Building Society Arena (often shortened to CBS Arena or just simply Coventry Arena, and formerly known as the Ricoh Arena) is a complex in Coventry, England, UK. It includes a 32,609-seater stadium which is currently home to football team, Championship club Coventry City F.C. along with facilities which include a 6,000 square meters (65,000 sq ft) exhibition hall, a hotel and a casino.

‘Coventry Building Society Arena’ further stated that Paul Michael, Commercial Director at Coventry Building Society Arena, heralded exciting times ahead with an opportunity to build on a host of events already lined up over the coming 18 months.

English singer-songwriter Harry Styles and English rock band Arctic Monkeys will take to the stage within the stadium bowl next Summer with a series of conferences and exhibitions already booked in.

Added Michael, “We’re absolutely delighted that the new ownership brings an exciting new era for everyone here at the Coventry Building Society Arena. It has been an uncertain few weeks but the team right across the business has shown incredible professionalism and dedication in keeping the venue operating. Now, we can look ahead and really plan for the future. The venue is of huge significance to the regional economy because of the number of visitors and business it brings to the area. We have dozens of conferences, exhibitions and events already lined up for the remainder of 2022 and into 2023, worth millions of pounds to the local economy.”

Continued Michael, “We have some great new and diverse shows coming over the next 12 months including The Big Zero Show, The EBME Expo and KewbzUK to name but a few which show the diversity of exhibitions and events we can host here. The announcement in October gives certainty to those events and now gives us the opportunity to go out and sell everything that is on offer at the Coventry Building Society Arena and bring in even more business. However, this goes beyond bringing short-term certainty. There are now plans for further investment into the venue and also to make the most of the recent opening of the Commonwealth Convention Centre here, which is another draw to the venue.”

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.

Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at www.coliseum-online.com/alliance and make use of the 365Coliseum Business.

Watch 500+ member-exclusive videos with valuable tips for your venue