Regarding your comment on this, whilst I have no idea how Leicester are structured, your interpretation on CCFC's structure and ownership of the Arena is interesting. It depends on what you constitute the football club to be - Covcityco Ltd (parent co) or Coventry City Football Club Ltd. The club posted the accounts of Coventry City Football Club Ltd not Covcityco Ltd and the football club operations all sit within Coventry City Football Club Ltd.
Covcityco Ltd owns the 4 stadium companies, Coventry City Football Club Ltd does not. I do not anticipate the way the operations of the arena are structured to change, so I expect the 4 stadium companies will continue to exist as they did under Frasers. I also think the existing lease arrangement over the Arena will continue - with Coventry City Football Club Ltd continuing to lease the Arena from Opco (Coventry Arena Opco Ltd, one of the stadium companies acquired). Ultimately in the Covcityco Ltd Group financial statements the lease expenditure in Coventry City Football Club Ltd and lease income in Opco will eliminate, so no impact in the Group accounts. But i'd expect the lease costs in Coventry City Football Club Ltd to remain moving forwards. I could be wrong on this operational point - we will need next years accounts to confirm this, but the one thing that is definitely factual is that Covcityco Ltd owns the 4 stadium companies and Coventry City Football Club Ltd does not.
Ultimately DK owns both Covcityco Ltd and Coventry City Football Club Ltd (DK owns 90% of Covcityco Ltd, which in turn owns 100% of Coventry City Football Club Ltd). The other 10% of Covcityco Ltd is owned by RCMA Group PTE Ltd (which is a company in DK's investment management group of companies), so for DK basically owns 100% regardless.
So on the one hand the football club does own the Arena, but on the other hand it does not. It all depends on how DK views the set up.