Coventry City has finally bought its stadium: why this is a historic event.

According to The Sun: Coventry City has finally gained ownership of its stadium after 20 years, which has brought great satisfaction to the football club.

For the last twenty years, the team has used four different stadiums, but now the Coventry City Building Society Arena officially belongs to them after they purchased the land from Frasers Group's Mike Ashley.

In the club's statement, it was noted: 'Coventry City Football Club is pleased to announce that it has completed the purchase of Coventry Building Society Arena from the Frasers Group, marking a turning point in the club's history.'

Chairman Doug King said: 'Today is a landmark day for Coventry City Football Club.'

The Frasers Group and former Newcastle United owner Ashley said: “Doug King has been a great collaborator and a fantastic steward of the club.' A main fan also added: “With him at the helm, I am confident that Coventry City football club has every chance of becoming a Premier League club soon.”

Therefore, the purchase of the Coventry City stadium is an important event in the club which may stimulate their development and strengthen their position in the future, including the possibility of promotion to the Premier League.