Source:REUTERS/Jason Cairnduff
[Saba Sports News] According to British media reports, former Newcastle owner Mike Ashley made a profit of up to £30 million after selling Coventry City’s home ground. Coventry City paid £50 million last summer to buy the Coventry Building Society Arena from Ashley’s Fraser Group. Prior to this, Coventry had rented the stadium from Ashley for many years. While the club was thrilled to finally regain their home after 20 years, the transaction also meant that Ashley easily pocketed £30 million in less than three years.
Ashley acquired the stadium for just £20 million in October 2022 from the rugby club Wasps, which was in administration. Regardless of the price, this deal comes at a crucial time for Coventry. Under Frank Lampard’s leadership, the team is steadily progressing towards a return to the Premier League next season. Currently, Coventry sits at the top of the Championship table, edging out Middlesbrough only on goal difference.