Mike Ashley is reportedly 'intensifying efforts' to buy the Coventry Building Society Arena amid uncertainty around the ground's future.
The operating companies that run the 32,609 capacity stadium, which hosts both Coventry City FC and Wasps RFC, filed notice of its intention to enter administration last month. Since then Ashley has emerged as the widely-reported preferred bidder to purchase the CBS Arena.
There are conflicting reports over whether the British retailer is also looking into a takeover of the Sky Blues as well, but his bid to buy the stadium is a part of his plan to make Coventry the "new stronghold" in his business empire, according to The Telegraph.
READ MORE: Coventry City have held "talks" with Mike Ashley's Fraser Group over CBS Arena future
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Ashley is also looking to acquire the Savile Row tailor Gieves & Hawkes, according to Sky News. The Frasers Group, of which he is a majority shareholder, has been swallowing up fashion brands, such as Jack Willis, Evans Cycles, Agent Provocateur and, most recently, Missguided for a £20 million deal.
The 58-year-old billionaire seems set to include the CBS Arena as part of his expansion given recent claims that an eight-figure sum had been agreed for the sale price. BBC CWR reporter Simon Gilbert reported that he intends to immediately buy the company out of administration".
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