Coventry City are set to get the go-ahead to purchase £1.6m of land next to the CBS Arena to enable an “exciting” future of wider regeneration of the area.
Club owner Doug King is purchasing the council-owned Car Park C land on the opposite side of the A444 from the stadium – a deal that is set to be signed off by Coventry City Council at a cabinet meeting on 13 October, reports the BBC.
The agreement has been described as a “win-win” by the council, whose relationship with the football club has significantly improved under stadium owner King, after years of conflict with the club’s previous owners.
Councillor Lynnette Kelly, Deputy Leader of the council, said: “Control of the car park will enable CCFC to plan for the future and look at wider regeneration of the area, which is exciting.”
Another sign of the improved trust between the club and council, says the BBC report, is the structure of the deal. The money will be paid over 10 years, with none of the funds going directly to the council.
Instead, the funds will be paid to the club’s official charity, Sky Blues in the Community.
The charity will be contractually obliged to use the money to fund around £160,000 of sport and cultural activities across the city every year for the next decade.
Kelly added: “It really is a win-win situation that will help our Premier League Sky Blues to grow stronger, and the people of the city, especially those that have less access to opportunities, to grow healthier.”
There are no public plans for the redevelopment of the car park land at this point – but several projects have come and gone over the years including plans for an indoor ski slope and proposals for hotels.
Owner of Coventry City, Doug King, said: “This deal will allow us to bring Car Park C alongside all the other areas already in the existing head lease and simplify future regeneration.”
