Coventry City: Doug King prioritises Sky Blues future at CBS Arena
- Published
Doug King's first press conference as Coventry City owner was done via a Zoom hook-up
New Coventry City majority shareholder Doug King says his number one priority is securing the Championship club's future at their rented CBS Arena home.
Speaking at his first date with the media since officially securing his 85% share in the club, he admitted the need for a new rental agreement with ground owners Frasers Group.
The current short-term arrangement expires at the end of this season.
"I'm very positive with the outlook for the situation," King told BBC CWR.
"We've certainly had some very loose conversations.
"It is only with us until the end of the season, so it is right at the top of my list to focus on that.
"We want a strong relationship with Frasers Group. It's very healthy for the club that we have a proper, well financed landlord.
"They're a very professional outfit. They understand sport. They have owned football clubs previously. They have a broad interest around the region and the stadium is a part of that."
King is yet to meet with Frasers Group owner Mike Ashley, but he has had dealings with their chief executive Michael Murray.
After first agreeing to buy the club from previous owners SISU in November, King himself also made a late £25m bid to buy the stadium.
But, when the arena formally went into administration, it was ruled that Ashley's reported £17m deal - including a £1.2m exclusivity payment up front to help keep the ground open for the Sky Blues to play home games in - should be allowed to go ahead.
"I hadn't really thought it through before," added King. "They already had a preferred bidder and the interim arrangement was probably sensible.
"I had to get in the door to an administration meeting I hadn't been invited to. But Frasers Group bought the stadium well, and they're putting it together. They remain separate ownerships."
King also stressed that staying put at the club's rented 18-year-old home is the priority - and not, for now at least, reactivating the plan to move across the city to a site on University of Warwick land, first mooted in 2020.
"I believe the club should be at the stadium for the foreseeable future," said King. "In today's world, a new stadium is a long way off.
"There's been a lot of work done on that project. It's not top of my radar right now. The reality is that it's something for the future, and the priority is the discussions we have with the Frasers Group."
King has regal ambitions for Coventry
When the new Millennium dawned in 2000, Coventry were playing in the Premier League, in their own city, and owned their own stadium.
Yet two decades into the 21st century, in 2020, they had lost all that.
They lost their Premier League status in 2001, lost their own stadium when they left Highfield Road to be bulldozed for housing redevelopment in 2005 and have spent three seasons playing away from their own city - once at Sixfields, Northampton (2013-14) and then for two years at St Andrew's in Birmingham (2019-2021).
But the long-running battle between previous owners SISU and landlords Coventry City Council is now over - and the Sky Blues supporters are understandably enthused about the arrival of a man with a plan like King.
And, whether or not the Sky Blues will ever own their own ground again, as they did at Highfield Road, it is clear at least that King wants that Premier League status back.
"There's a million people with a CV postcode," King said. "It's untapped.
"The club's not been in the Premier League since 2001 and it's hard to get there.
"But the most exciting thing is the journey - and it's a journey people can enjoy being a part of it.
Coventry Building Society took over from Ricoh as sponsors of the city's 32,000 all-seater arena in 2021
"I know what we have and I know what I want to do. This is not a short-term project.
"The club does not owe any money to anyone. We're now operating with whatever we're getting in and whatever we're chucking out. And there will be no money taken out while I'm the owner.
"It has been shown that this club is not generating profits, so there will be financing by myself to get where we need to get to.
"But I'm not a reckless man, who throws money around willy-nilly. You look around at clubs like Everton, to see what can happen.
"I simply saw a chance that we could get where we need to get to, but we will do it in a very sensible manner.
"Upper end of the Championship and knocking on the door, looking to get through that door, to be in the play-offs and keep doing that every year until we get there.
"I want to be fully involved in what we do and how we do it. I want to be on the front foot. And I want the fans with us.
"This club has had a difficult 15 years. I just thought there was a chance that I could get involved, and, with my entrepreneurial leadership, that I could make a success of it."
Robins 'the most important person'
Mark Robins has won 117 of his 294 matches since taking over as Coventry City boss for a second time in March 2017
King admits that one of the key factors in his decision to take over at Coventry was their highly-prized manager Mark Robins.
"He [Robins] was the most important person to me, in all our dealings," added King. "I'm extremely happy with all the discussions I've had with him.
"Somebody pointed out the other day that this club is in the same place as when SISU first came in.
"That is testament to the last four years and having a very good manager, who has created a great building block to go forward.
"He's experienced and he understands what we're trying to do, and that we're trying to do it in a certain way.
"And I love the fact that he's been here five years and he's still so ambitious. He wants to get to that top league."
Friends Will Be Friends: Stanley Tucci and his best friend talk about their love of food and art
All fired up and ready for business: Hopeful entrepreneurs enter the Dragons' Den...
