Exclusive: Whether owning either Wasps or Coventry City is a longer-term goal remains to be seen
The Mike Ashley-owned Frasers is on the verge of becoming Coventry City and Wasps’ new landlord after being identified as the preferred bidder for the Coventry Building Society (CBS) Arena.
Arena Coventry Limited (ACL) confirmed on Wednesday that it, Arena Coventry (2006) Limited and IEC Experience Limited had applied to the Court for the Companies to be placed in administration ahead of an expected takeover.
A spokesman added: “We anticipate that the administration orders will be made in the forthcoming weeks.
“The Companies and the proposed administrators from FRP Advisory have run an accelerated sales process to sell the business and assets of the Companies and have identified a preferred bidder.