Stadium update (20 Viewers)

[Bassette Deck]

Who do I contact to request the bird shit on the ledge in front of my seat is cleaned? It's been there fucking ages.

How do you know it was a bird and not a bloke?

 

---

[GC1976]

You would think CoventryLive/ Telegraph website would remove the WASPS link on its home page by now. Pretty embarrassing for a “local newspaper“

Wasps RFC - Coventry Telegraph

Wasps are an English professional rugby union team that moved to Coventry in 2014 after buying the Ricoh Arena, now called the Coventry Building Society Arena. The team compete in the Gallagher Premiership, Heineken Champions Cup and the Premiership Rugby Cup. You can find us on Facebook and...

www.coventrytelegraph.net

 

[KenilworthSkyBlue]

You would think CoventryLive/ Telegraph website would remove the WASPS link on its home page by now. Pretty embarrassing for a “local newspaper“

Wasps RFC - Coventry Telegraph

Wasps are an English professional rugby union team that moved to Coventry in 2014 after buying the Ricoh Arena, now called the Coventry Building Society Arena. The team compete in the Gallagher Premiership, Heineken Champions Cup and the Premiership Rugby Cup. You can find us on Facebook and...

www.coventrytelegraph.net

Even more so when they give zero coverage to Coventry Rugby Club. Disgraceful really.

 

[Captain Dart]

Yet another car control measure.

Council update on plans to limit drivers around Coventry Building Society Arena

The plans were put out to public consultation

www.coventrytelegraph.net

 

[GC1976]

Even more so when they give zero coverage to Coventry Rugby Club. Disgraceful really.

Yeah you are right putting it that way it’s awful.

 

[ajsccfc]

How about bringing in a couple of wet wipes and doing it yourself?

Wet wipes are fresh poo, this is chisel territory

 

[ajsccfc]

How do you know it was a bird and not a bloke?

The taste

 

[chiefdave]

Yet another car control measure.

Council update on plans to limit drivers around Coventry Building Society Arena

The plans were put out to public consultation

www.coventrytelegraph.net

not sure there's much to disagree with there. Makes sense to stop cars and taxis using Judds Lane as a pick up and drop off point. Just blocks the road when you've got hundreds of vehicles queuing to leave.

 

[GC1976]

The taste

If it’s nutty in taste with sweetcorn it’s not a bird

 

[Grendel]

A charge has been filed this morning on Companies House between Coventry Arena Propco Limited and FRS Estates Limited dated 23 August 2025.

Coventry Arena Propco was purchased by Covcityco Limited on 23rd Aug, with Doug King as the sole director. This company is set up to manage the lease of the arena. In essence, it doesn’t really seem to do much other than hold the lease and is set up as part of a complex group structure. Based on the charge filed on companies house, Propco is the proprietor (owner/holder) of the head lease of the arena and the footbridge over the A444.

The fact a charge is in place between Propco and FRS Estates implies to me that there is a financial obligation between Propco and Frasers (presumably a loan) which is then secured against the lease and so provides Frasers with a security in case of default by the club. So this implies to me that Propco has borrowed money from FRS Estates to fund the acquisition of the Arena, although I could be wrong on this. Again there is no information on how much or what is attached to this borrowing other than the assets which the financial obligation is secured against.

Interestingly no charges filed for Coventry Arena Opco Limited (now also owned by Covcityco Limited) which is the proprietor of the land at Phoenix Way, the advertising screen at Phoenix way, part of the leisure and exhibition areas of the arena, and part of the bridge again. Maybe this will be filed shortly, this would be my expectation I think based on what has gone on for Propco.

I would assume the council had to sign a Deed of Assignment to approve the transfer of the lease?

Is it not plausible that the default option was placed by the council so the option of repurchase was there so the deed did not just relapse.

I would assume the funding has actually come from investors in RCMA Group who are prepared to extend into property portfolio

 

[CrawleySkyBlue]

I would assume the council had to sign a Deed of Assignment to approve the transfer of the lease?

Is it not plausible that the default option was placed by the council so the option of repurchase was there so the deed did not just relapse.

I would assume the funding has actually come from investors in RCMA Group who are prepared to extend into property portfolio

The lease has not directly transferred to my understanding - Coventry Arena Propco Limited remain the proprietor of the lease according to the latest charge filed on Companies House. This would also make sense based on the below.

My working assumption is that Covcityco Limited (or its subsidiary, Coventry City Football Club Limited, but my assumption is that it'd be Covcityco Limited) have acquired the share capital of Coventry Arena Propco Limited, Coventry Arena Ipco Limited, Coventry Arena Opco Limited and Coventry Arena Retail Limited. We know from Companies House that Covcityco Limited has at least 75% direct or indirect control of these companies since 23/08/25. Since Propco and Opco manage the various different leases covering the Arena and Arena Retail Limited operate the Arena, the club now owns the Arena (under the 230+ year lease, or whatever it now is). Hence why I state the direct proprietor of the lease remains Propco (and Opco for other leases), it is just that these companies are now owned by Covcityco Limited rather than Frasers.

We can't yet tell how the club has funded the acquisition - but your suggestion that it's from an investor in RCMA Group could well be correct.

We already know that there was an equity injection of £15m (for 1.22m shares, which equals a 10% stake) in May-25 into Covcityco Limited - we do not yet know where this came from. You'd imagine that there would have needed to have been further funding either from loans or equity to fund the acquisition.

If it was funded by a further equity injection, a SH01 form is required to be filed within one month of the date of the new share issue. So this theoretically means we'll know if new equity was used to fund the acquisition by 23/09/25. There is nothing filed on Companies House thus far. We know from the most recent accounts of Coventry City Club Limited filed in Feb-25 that Doug King owns 100% of Covcityco Limited - so if this new equity in Covcityco Limited is from a different source, we will at least see Doug's percentage ownership decrease (although we will unlikely be able to tell who the part new owner is).*

If it was funded by loans, we'll be able to see a significant increase in borrowings in the next set of accounts of Covcityco Limited, albeit it will not state who this loan is from (unless it was from Doug King as the sole director). If Doug has agreed any personal investments outside of Covcityco Limited, for which he then passes on to the club, again we will not see these, we will only know that the funds came from Doug and we will not be able to tell anything further (a bit like the £24m loaned by Doug to the club during FY24).*

There is of course the option that there is some sort of joint venture type agreement*, whereby Covcityco Limited controls at least 75% of the above mentioned companies with Frasers retaining the remaining stake (or there being another new party involved). This is possible and would reduce the price the club have paid to acquire the companies/Area. I consider this option much less likely.

At this stage, we do not know much more. But when the next set of financial statements of Covcityco Limited accounts, Frasers Group plc, FRS Estates Limited and Coventry Arena Retail Limited are filed, we might get some more information to piece some facts together.

*With each of these options, i'd expect that any new investor (in whichever form) would want a say in how the club, or at least the Arena, is operating, unless they were extremely trustworthy of Doug. So you could potentially see new director(s) appointed depending on the level of investment made by the new party, which again would help to shed light on where any new funding has come from.

I also wonder if Nicola Ibbetson, the new chief business officer, and Paul Tyrrrell, new chief operating officer, were both brought in to assist with what is now a much larger and impressive operation now that the club owns the Arena.

 

[northstander]

Anyway back to renaming the Anecdote... My suggestion is The Robins Arms

 

[Calista]

You would think CoventryLive/ Telegraph website would remove the WASPS link on its home page by now. Pretty embarrassing for a “local newspaper“

Wasps RFC - Coventry Telegraph

Wasps are an English professional rugby union team that moved to Coventry in 2014 after buying the Ricoh Arena, now called the Coventry Building Society Arena. The team compete in the Gallagher Premiership, Heineken Champions Cup and the Premiership Rugby Cup. You can find us on Facebook and...

www.coventrytelegraph.net

Blimey, that's unbelievably bad

 

[Speedie's Head]

I also wonder if Nicola Ibbetson, the new chief business officer, and Paul Tyrrrell, new chief operating officer, were both brought in to assist with what is now a much larger and impressive operation now that the club owns the Arena.

I think that goes without saying. This deal has obviously not emerged over Friday night! King mentioned Nicola by name at the w/e.

 

[clint van damme]

The lease has not directly transferred to my understanding - Coventry Arena Propco Limited remain the proprietor of the lease according to the latest charge filed on Companies House. This would also make sense based on the below.

My working assumption is that Covcityco Limited (or its subsidiary, Coventry City Football Club Limited, but my assumption is that it'd be Covcityco Limited) have acquired the share capital of Coventry Arena Propco Limited, Coventry Arena Ipco Limited, Coventry Arena Opco Limited and Coventry Arena Retail Limited. We know from Companies House that Covcityco Limited has at least 75% direct or indirect control of these companies since 23/08/25. Since Propco and Opco manage the various different leases covering the Arena and Arena Retail Limited operate the Arena, the club now owns the Arena (under the 230+ year lease, or whatever it now is). Hence why I state the direct proprietor of the lease remains Propco (and Opco for other leases), it is just that these companies are now owned by Covcityco Limited rather than Frasers.

We can't yet tell how the club has funded the acquisition - but your suggestion that it's from an investor in RCMA Group could well be correct.

We already know that there was an equity injection of £15m (for 1.22m shares, which equals a 10% stake) in May-25 into Covcityco Limited - we do not yet know where this came from. You'd imagine that there would have needed to have been further funding either from loans or equity to fund the acquisition.

If it was funded by a further equity injection, a SH01 form is required to be filed within one month of the date of the new share issue. So this theoretically means we'll know if new equity was used to fund the acquisition by 23/09/25. There is nothing filed on Companies House thus far. We know from the most recent accounts of Coventry City Club Limited filed in Feb-25 that Doug King owns 100% of Covcityco Limited - so if this new equity in Covcityco Limited is from a different source, we will at least see Doug's percentage ownership decrease (although we will unlikely be able to tell who the part new owner is).*

If it was funded by loans, we'll be able to see a significant increase in borrowings in the next set of accounts of Covcityco Limited, albeit it will not state who this loan is from (unless it was from Doug King as the sole director). If Doug has agreed any personal investments outside of Covcityco Limited, for which he then passes on to the club, again we will not see these, we will only know that the funds came from Doug and we will not be able to tell anything further (a bit like the £24m loaned by Doug to the club during FY24).*

There is of course the option that there is some sort of joint venture type agreement*, whereby Covcityco Limited controls at least 75% of the above mentioned companies with Frasers retaining the remaining stake (or there being another new party involved). This is possible and would reduce the price the club have paid to acquire the companies/Area. I consider this option much less likely.

At this stage, we do not know much more. But when the next set of financial statements of Covcityco Limited accounts, Frasers Group plc, FRS Estates Limited and Coventry Arena Retail Limited are filed, we might get some more information to piece some facts together.

*With each of these options, i'd expect that any new investor (in whichever form) would want a say in how the club, or at least the Arena, is operating, unless they were extremely trustworthy of Doug. So you could potentially see new director(s) appointed depending on the level of investment made by the new party, which again would help to shed light on where any new funding has come from.

I also wonder if Nicola Ibbetson, the new chief business officer, and Paul Tyrrrell, new chief operating officer, were both brought in to assist with what is now a much larger and impressive operation now that the club owns the Arena.

A new financial ITK has entered the chat!
Thanks for posting.

 

[Danceswithhorses]

A new financial ITK has entered the chat!
Thanks for posting.

Oldskyblue58 would be pleased

 

[GC1976]

I think that goes without saying. This deal has obviously not emerged over Friday night! King mentioned Nicola by name at the w/e.

It’s difficult to understand how a stadium with hotel, parking , casino , surrounding land and conference centre can’t make a profit. They have been brought in to turn it around hopefully. What can be done differently?

 

[Hobo]

Even more so when they give zero coverage to Coventry Rugby Club. Disgraceful really.

When Wasps were playing at the Ricoh, a Coventry rugby fan contacted the CET sports editor and complained about the lack of coverage of Coventry Rugby Club. His response was he didn't know Coventry had a rugby team other than Wasps. Rugby Union obviously wasn't his sport.

 

[GC1976]

When Wasps were playing at the Ricoh, a Coventry rugby fan contacted the CET sports editor and complained about the lack of coverage of Coventry Rugby Club. His response was he didn't know Coventry had a rugby team other than Wasps. Rugby Union obviously wasn't his sport.

Unfortunately CET is just a shell of what it was every city town has same generic template website GrimsbyLive etc. Clueless and probably edited /reported miles from Coventry.

 

[Speedie's Head]

It’s difficult to understand how a stadium with hotel, parking , casino , surrounding land and conference centre can’t make a profit. They have been brought in to turn it around hopefully. What can be done differently?

Goodness knows! King commented at the weekend about the facilities being just the same as anywhere else without the football branding. I bet it's in need of a good facelift too by know

 

[SBAndy]

Unfortunately CET is just a shell of what it was every city town has same generic template website GrimsbyLive etc. Clueless and probably edited /reported miles from Coventry.

“I checked out the latest burger restaurant in town and here’s what I found”








“Burgers”

 

[Gynnsthetonic]

Goodness knows! King commented at the weekend about the facilities being just the same as anywhere else without the football branding. I bet it's in need of a good facelift too by know

In King we trust. I have every faith in the football club turing the fortunes of the stadium around.

 

[Speedie's Head]

In King we trust. I have every faith in the football club turing the fortunes of the stadium around.

As long as it gets the investment it needs I don't see why not either. Even if it was marginal it wouldn't really matter.

 

[ajsccfc]

In King we trust. I have every faith in the football club turing the fortunes of the stadium around.

Same, the changes made to the club in the last few years are like night and day to what's gone before

 

[CovRes]

Unfortunately CET is just a shell of what it was every city town has same generic template website GrimsbyLive etc. Clueless and probably edited /reported miles from Coventry.

Some of it is certainly done miles away, and stories from other parts of the Reach group are regurgitated to fill space.

20+ plus years ago I think they had about 30 or 40 journalists and editors working there. Now there's about a dozen or so.

 

[Nick]

“I checked out the latest burger restaurant in town and here’s what I found”








“Burgers”

"I ordered a burger and you would never guess what happened"

"I asked for a burger, I got a burger and I ate it"

 

[GC1976]

“I checked out the latest burger restaurant in town and here’s what I found”








“Burgers”

did you order it yourself… well done !

 

[SHUNT31]

The lease has not directly transferred to my understanding - Coventry Arena Propco Limited remain the proprietor of the lease according to the latest charge filed on Companies House. This would also make sense based on the below.

My working assumption is that Covcityco Limited (or its subsidiary, Coventry City Football Club Limited, but my assumption is that it'd be Covcityco Limited) have acquired the share capital of Coventry Arena Propco Limited, Coventry Arena Ipco Limited, Coventry Arena Opco Limited and Coventry Arena Retail Limited. We know from Companies House that Covcityco Limited has at least 75% direct or indirect control of these companies since 23/08/25. Since Propco and Opco manage the various different leases covering the Arena and Arena Retail Limited operate the Arena, the club now owns the Arena (under the 230+ year lease, or whatever it now is). Hence why I state the direct proprietor of the lease remains Propco (and Opco for other leases), it is just that these companies are now owned by Covcityco Limited rather than Frasers.

We can't yet tell how the club has funded the acquisition - but your suggestion that it's from an investor in RCMA Group could well be correct.

We already know that there was an equity injection of £15m (for 1.22m shares, which equals a 10% stake) in May-25 into Covcityco Limited - we do not yet know where this came from. You'd imagine that there would have needed to have been further funding either from loans or equity to fund the acquisition.

If it was funded by a further equity injection, a SH01 form is required to be filed within one month of the date of the new share issue. So this theoretically means we'll know if new equity was used to fund the acquisition by 23/09/25. There is nothing filed on Companies House thus far. We know from the most recent accounts of Coventry City Club Limited filed in Feb-25 that Doug King owns 100% of Covcityco Limited - so if this new equity in Covcityco Limited is from a different source, we will at least see Doug's percentage ownership decrease (although we will unlikely be able to tell who the part new owner is).*

If it was funded by loans, we'll be able to see a significant increase in borrowings in the next set of accounts of Covcityco Limited, albeit it will not state who this loan is from (unless it was from Doug King as the sole director). If Doug has agreed any personal investments outside of Covcityco Limited, for which he then passes on to the club, again we will not see these, we will only know that the funds came from Doug and we will not be able to tell anything further (a bit like the £24m loaned by Doug to the club during FY24).*

There is of course the option that there is some sort of joint venture type agreement*, whereby Covcityco Limited controls at least 75% of the above mentioned companies with Frasers retaining the remaining stake (or there being another new party involved). This is possible and would reduce the price the club have paid to acquire the companies/Area. I consider this option much less likely.

At this stage, we do not know much more. But when the next set of financial statements of Covcityco Limited accounts, Frasers Group plc, FRS Estates Limited and Coventry Arena Retail Limited are filed, we might get some more information to piece some facts together.

*With each of these options, i'd expect that any new investor (in whichever form) would want a say in how the club, or at least the Arena, is operating, unless they were extremely trustworthy of Doug. So you could potentially see new director(s) appointed depending on the level of investment made by the new party, which again would help to shed light on where any new funding has come from.

I also wonder if Nicola Ibbetson, the new chief business officer, and Paul Tyrrrell, new chief operating officer, were both brought in to assist with what is now a much larger and impressive operation now that the club owns the Arena.

Great post.

There was a post on FB that suggested Frasers retained a % but as you say, we know for sure the CovCityCo has significant control over the various entities. I agree that I would be surprised if it wasn’t full control and based off the statements issued by DK and MA, it was made out to be 100%.

The equity injection made earlier on in the year in CovCityCo was strange given that they were a new class of shares. I personally think this could have been a new investor as I’m not convinced it was related to the purchase of the CBS and as DK is sole shareholder it raises questions as to why a new class was issued.

Looking forward to divulging in the next set of accounts although there won’t be much information in them as they will be dated to 31/05/2025 but will likely be a couple of disclosure notes. The accounts to 31/05/2026 should show a truer picture.

 

[SBAndy]

Great post.

There was a post on FB that suggested Frasers retained a % but as you say, we know for sure the CovCityCo has significant control over the various entities. I agree that I would be surprised if it wasn’t full control and based off the statements issued by DK and MA, it was made out to be 100%.

The equity injection made earlier on in the year in CovCityCo was strange given that they were a new class of shares. I personally think this could have been a new investor as I’m not convinced it was related to the purchase of the CBS and as DK is sole shareholder it raises questions as to why a new class was issued.

Looking forward to divulging in the next set of accounts although there won’t be much information in them as they will be dated to 31/05/2025 but will likely be a couple of disclosure notes. The accounts to 31/05/2026 should show a truer picture.

With the charge, you’d imagine there’s a ‘deferred consideration’ (i.e. buy now, pay later) element to the transaction as it’s common practice for the seller to retain a charge to mitigate the risk of non-payment. Someone else (may well have been in the quoted post) suggested Doug’s taken a loan from Frasers; it’s effectively a payment plan. For example, if the Arena makes a profit of more than £1m, it may mean future payments increase.

 

[CrawleySkyBlue]

Great post.

There was a post on FB that suggested Frasers retained a % but as you say, we know for sure the CovCityCo has significant control over the various entities. I agree that I would be surprised if it wasn’t full control and based off the statements issued by DK and MA, it was made out to be 100%.

The equity injection made earlier on in the year in CovCityCo was strange given that they were a new class of shares. I personally think this could have been a new investor as I’m not convinced it was related to the purchase of the CBS and as DK is sole shareholder it raises questions as to why a new class was issued.

Looking forward to divulging in the next set of accounts although there won’t be much information in them as they will be dated to 31/05/2025 but will likely be a couple of disclosure notes. The accounts to 31/05/2026 should show a truer picture.

Unsure as to why the new class of shares were issued in Covcityco Limited. Your theory could well be correct.

The shares were issued in May-25 (22/05/25) and so will be relevant for the FY25 accounts. Therefore we should be able to find out from the FY25 accounts of Coventry City Football Club Limited if Doug remains the sole owner of Covcityco Limited (the parent co of Coventry City Football Club Limited). The FY24 accounts of Coventry City Football Club Limited stated "At the balance sheet date [31/05/24], the parent undertaking of the company is CovCityCo Ltd, which is registered in England and Wales. CovCityCo Ltd is wholly owned by Mr Douglas Richard John King who is considered to be the ultimate controlling party", so this would be different in the FY25 accounts if the £15m of shares issued were from a new part owner. But to be clear I would not expect this disclosure to name who the new part owner was (if indeed there is a new part owner).

In addition, whilst I agree the FY26 accounts will be provide more detail on the acquisition of the Arena along with how it is funded, the FY25 accounts of the various companies involved will require post balance sheet event note disclosures. We should be able to get a certain level of information from this, albeit we still won't be able to piece together all of the facts.

 

[SHUNT31]

Unsure as to why the new class of shares were issued in Covcityco Limited. Your theory could well be correct.

The shares were issued in May-25 (22/05/25) and so will be relevant for the FY25 accounts. Therefore we should be able to find out from the FY25 accounts of Coventry City Football Club Limited if Doug remains the sole owner of Covcityco Limited (the parent co of Coventry City Football Club Limited). The FY24 accounts of Coventry City Football Club Limited stated "At the balance sheet date [31/05/24], the parent undertaking of the company is CovCityCo Ltd, which is registered in England and Wales. CovCityCo Ltd is wholly owned by Mr Douglas Richard John King who is considered to be the ultimate controlling party", so this would be different in the FY25 accounts if the £15m of shares issued were from a new part owner. But to be clear I would not expect this disclosure to name who the new part owner was (if indeed there is a new part owner).

In addition, whilst I agree the FY26 accounts will be provide more detail on the acquisition of the Arena along with how it is funded, the FY25 accounts of the various companies involved will require post balance sheet event note disclosures. We should be able to get a certain level of information from this, albeit we still won't be able to piece together all of the facts.

Yes, I meant regarding the CBS in accounts to May 2025.

I believe the confirmation statement due Nov state if there’s a new shareholder in CovCityCo which will be available before FY25 accounts are published.

Quite a complex group structure going on now.

 

[Speedie's Head]

Yes, I meant regarding the CBS in accounts to May 2025.

I believe the confirmation statement due Nov state if there’s a new shareholder in CovCityCo which will be available before FY25 accounts are published.

Quite a complex group structure going on now.

King was asked if he owned the stadium outright and he replied carefully that the club owned the stadium in full. I don't remember the exact words now

 

[Gibbo]

Oldskyblue58 would be pleased

Crawley is easier to comprehend that Oldskyblue58...just

 

[Tile Hill Phil]

Same, the changes made to the club in the last few years are like night and day to what's gone before

Yeah it is unrecognisable from a few years ago. I remember going to a kiosk at Covs rugby ground at the Butts to buy some tickets for an away game. That was a real low at the time

 

[Sky Blue Wozza]

Yeah it is unrecognisable from a few years ago. I remember going to a kiosk at Covs rugby ground at the Butts to buy some tickets for an away game. That was a real low at the time

From a trestle table, if I remember correctly!