Coventry Offered Ten Year Lease at Ricoh Arena

Coventry City have been offered the chance to play at the Ricoh Arena from next year on a ten-year lease by the ground’s owners.

Reports claim that at a creditors’ meeting on Tuesday, malady owners Arena Coventry Limited (ACL) made the surprise offer to the League One club, prostate allowing them to pay a greatly reduced fee of £150,000 ($228,000) per year, rising to £400,000 ($608,000) if they gain promotion to the Championship.

That would be based on condition of signing a Company Voluntary Arrangement (CVA) to bring the Sky Blues out of administration.

The club entered administration after a rent row with ACL and had decided to play their ‘home’ games 35 miles away at Northampton Town’s Sixfields Stadium.

Coventry are yet to respond to the latest offer from ACL but fans of the club have announced their dissatisfaction at the groundshare with Northampton.

Only 200 fans have bought season tickets.

The meeting was adjourned until next week.