Stadium buying price revealed (7 Viewers)

[Winny the Bish]

MIKE ASHLEY made a £30million profit on the Coventry City stadium after flogging the ground to the Premier League hopefuls.

The Championship leaders forked out £50million last summer, to secure the Coventry Building Society Arena from Ashley’s Fraser Group, SunSport can reveal.

Fresh paperwork for Ashley’s Fraser Group confirmed the stadium sale price for the first time. Documents for the company said: “The group completed the disposal of the Coventry Arena business in August 2025 to CovCityco Ltd for consideration of £50million.”

Ex-Newcastle owner Mike Ashley makes £30m profit in three years selling stadium

 

---

[Evo1883]

Somebody put it on here the other day

 

[Sky Blue Pete]

Somebody put it on here the other day

Not sure it was £50m

 

[Winny the Bish]

Somebody put it on here the other day

Must've missed that

 

[Evo1883]

Not sure it was £50m

Thats what they said it was and weve only paid 7.5 mill off so far

 

[Razzle Dazzle Dean Gordon]

Must've missed that

There was a thread on the latest set of accounts where it gets a bit of coverage

 

[fatso]

The figures are misleading. (Not a suprise considering the source) it doesn't account for the considerable cost of the repairs that were needed after Sisu's exit, or the operating loses that Mike Ashley had to cover.

 

[SkyBlueSoul]

Finance update

Latest filing (today) on Companies House shows that the £15m equity put into the club in May-25 was from RCMA GROUP PTE LTD. This is a company within the wider RCMA Group of companies, for which Doug King is an owner.

www.skybluestalk.co.uk

 

[Sky Blue Pete]

Thats what they said it was and weve only paid 7.5 mill off so far

I thought they said £40m sorry

 

[wilky67]

Mike Ashley still owns the ground we are in trouble if we don’t go up

 

[Grendel]

Mike Ashley still owns the ground we are in trouble if we don’t go up

He doesn’t own the ground

 

[shepardo01]

Presumably they (Fraser's) spent the 17m required (on top of what they paid) to fix all the stuff Wasps left ruined.

 

[Bad Boy]

Mike Ashley still owns the ground we are in trouble if we don’t go up

Where have you been since August last year w67?

 

[BinleyMegaSkyBlue]

Presumably they (Fraser's) spent the 17m required (on top of what they paid) to fix all the stuff Wasps left ruined.

Aye I thought Doug made it pretty clear in an interview afterwards they'd probably spent at least as much as they put in buying it, which was close to 20 million judging by the numbers. Makes 50 million a lot more palatable.

 

[Danceswithhorses]

Finance update

Latest filing (today) on Companies House shows that the £15m equity put into the club in May-25 was from RCMA GROUP PTE LTD. This is a company within the wider RCMA Group of companies, for which Doug King is an owner.

www.skybluestalk.co.uk

Yep, CrawleySkyBlue was all over this a week ago, and gave his expert analysis.
Nice to have another guy on here who knows his stuff, just like 'oldskyblue58', who is greatly missed.

 

[wingy]

Aye I thought Doug made it pretty clear in an interview afterwards they'd probably spent at least as much as they put in buying it, which was close to 20 million judging by the numbers. Makes 50 million a lot more palatable.

Not so sure about that, for what they gained from the LA locally, personally I think they should have been happy with a cost neutral deal,£20M too much for me.. probably only a 70 year lifespan for this stadium.

 

[StrettoBoy]

Mike Ashley still owns the ground we are in trouble if we don’t go up

No he doesn't. We own the ground but Ashley has a mortgage on it to secure the deferred consideration.