Coventry City directed to leave stadium by Frasers Group led by Mike Ashley. Here's why

The new owners of Coventry City's stadium have issued an eviction notice to the football club. Mike Ashley's Frasers Group purchased the stadium's three former operational firms last month. The stadium was taken over by Frasers Group in November, after former owners Wasps Holdings went into administration on October 18. They claim that until a new license is agreed upon, the championship team will no longer be able to use the stadium.

Coventry insists they are surprised by the decision since they have a license until 2031, but the BBC reports that the Frasers Group does not think they are obligated by the deal agreed with the stadium's former owners, Wasps rugby club. Report claims that club administrators have been told to return keys and access cards. Same reports also stated that people connected with Coventry City would be "given a fair amount of time" to remove other stuff from the arena.

On Saturday, Coventry's young squad was scheduled to play an FA Youth Cup game at the stadium. This was changed to Leamington at the last minute, according to a Coventry City statement, due to "unforeseen circumstances”.




Mike Ashley, who gained a fortune with his Sports Direct company, was selected to the Sunday Times Rich List in 2021. After the three parent companies of the group fell into bankruptcy, Frasers Group was able to acquire the stadium for £17 million.

FAQs:

1. What brands are owned by Mike Ashley?
   Starting with a single sportswear store, his retail empire has grown to encompass House of Fraser, Game, Jack Wills, and Evans Cycles.
2. What is the net worth of Mike Ashley?
   Net worth of Mike Ashley reportedly is 530 Crores USD.