Sky Sports: Mike Ashley returns to football with £17m purchase after two failed takeover bids

As revealed by Sky Sports News, Mike Ashley has completed the £17m purchase of Coventry City’s home stadium the CBS Arena after the former owners entered administration. 

Just over a year after the 58-year-old competed the £305m sale of Newcastle to PIF, the former Newcastle United owner has started his new footballing venture after expressing a desire to buy Coventry City in recent weeks. 

Ashley had also been involved in a battle to buy Derby County after they also fell into administration, but his bid was ultimately unsuccessful. 

However, the Sky Blues have since rubbished any rumours of him purchasing the club, making it clear in a recent statement that they plan to sell an 85% stake in the club to local businessman Doug King. 

It would be a shame for another set of football fans to have to see their club suffer at the hands of Mike Ashley, but with such a dire situation at Coventry, it’s difficult to pick and choose who can help to simply keep them afloat. 

4 thoughts on “Sky Sports: Mike Ashley returns to football with £17m purchase after two failed takeover bids

  1. we should as toon fans, set up a save Coventry City fund to keep it out of the clutches of that disturbing tool and give the Godivers some hope.

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  2. Dad was from Hebburn, Mum from Coventry and supported Magpies and Sky Blues growing up. If local business owner Doug King owns City and Ashley owns stadium all the ingredients are for the same type of civil war that existed between Sisi and City Council and saw them play at Northampton!!! If they hold onto Robins, who is a remarkable low budget manager they’ll be ok, but just see more trouble ahead .

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  3. I appreciate that slagging off Ashley is the trendy thing to do, however – if he bought the club he would be looking to get them into the Premier League so that he could make millions by selling them on.
    Coventry City fans might not be too averse to trying that.

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