Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Mike Ashley scores in £17m deal to buy Coventry Arena securing 1,000 local jobs

by November 18, 2022
November 18, 2022
Mike Ashley scores in £17m deal to buy Coventry Arena securing 1,000 local jobs

The former Newcastle United owner Mike Ashley has taken over the Coventry Building Society Arena after buying its three operating companies.

The acquisition by Ashley’s Frasers Group of the 32,609-seat stadium has provided Coventry City Football Club with a permanent home next season and has secured the future of 1,000 jobs in the stadium, which houses a hotel and a casino. The ground, previously know as the Ricoh Arena was also the home of Wasps rugby club before it went into administration last month.

Frasers Group began as Sports Direct, but its name was changed to Frasers four years ago after the purchase of the eponymous high street department stores chain. Frasers owns a string of other retailers, including Game, Jack Wills and Missguided. The retail conglomerate is headed by Michael Murray, son-in-law of Ashley, 58, the founder.

It bought the arena’s three operating companies after a £17 million bid for the businesses.

Ashley’s group beat Doug King, Coventry City’s new owner, to the deal, after a court ruled that King’s £25 million offer to buy the arena had come too late.

On Wednesday Coventry City agreed a deal to sell an 85 per cent stake in the Championship football club to King. The agreement is subject to approval from the English Football League.

Andrew Sheridan and Raj Mittal, from FRP Advisory, were given the task of with finding a buyer for the venue after being made joint administrators of Arena Coventry Limited, Arena Coventry (2006) Limited and IEC Experience Limited.

Frasers’ purchase of the stadium comes a month after plans to house the group’s global headquarters in nearby Ansty, Warwickshire were announced.

Read more:
Mike Ashley scores in £17m deal to buy Coventry Arena securing 1,000 local jobs

0
FacebookTwitterGoogle +Pinterest
previous post
Return to offices ‘will not increase’
next post
Suspect Who Plowed Into Police Recruits Released From Jail

You may also like

SG Kleinwort Hambros launches dedicated team for entrepreneurs

June 6, 2023

UK homes cancel streaming services to reduce spending...

October 17, 2022

Britain no longer heading for recession this year,...

May 23, 2023

Ocado shares surge on Amazon takeover rumours

June 23, 2023

Best Areas in London to Live​​

September 9, 2022

Tesla’s daily deliveries near 5,000 in 2024 as...

February 4, 2025

Unleashing Innovation: How Fintech Startups are Driving Embedded...

August 9, 2023

Wet weather and shaky consumer confidence give retailers...

April 5, 2024

Red Sea Shipping Disruption Sends Ripples Through UK...

February 26, 2024

Apple joins opposition to Online Safety Bill and...

June 28, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved