The retail company Frasers Group plc and the Championship team Coventry City F.C. recently agreed on an extended licence that will enable the club to continue to play at their residence – the Coventry Building Society Arena in Coventry, England (UK).
‘Coventry Building Society Arena’ further stated that the new licence agreement will cover a period of five years, with both parties committed to working towards the arena becoming the long-term home of the Coventry City F.C.
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 City Football Club is an association football club based in Coventry, West Midlands, England (UK). The team currently play in the Championship, the second tier of the English football league system. The club is nicknamed the ‘Sky Blues’ because of the color of their home strip. The CBS Arena serves as their residence.
The Coventry Building Society Arena (often shortened to the 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 the 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’ quoted Michael Murray, head honcho of Frasers Group, as stating, “Following our recent acquisition of the Coventry Building Society Arena, we are committed to investing into the Arena and the local community, and therefore supporting its future growth.”
Commented Doug King, Owner of Coventry City F.C., “We are delighted to sign this agreement, which we know will be welcomed by the ‘Sky Blues’ fans. This agreement will help to provide a period of further stability whilst we continue to build a positive future for the Coventry City Football Club. The licence will enable us to play at our home, the Coventry Building Society Arena, for a minimum of five years and we will continue to positively engage with the Frasers Group with regard to the longer term at the Arena.”
The club’s existing licence to play at the Arena was due to expire at the end of the current season in May. It is envisaged that the new licence agreement will provide the respective parties with flexibility to continue to refine their future strategies at the Arena with a view to entering into a long-term partnership.
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