Prospective new Coventry City owner Doug King was unable to put in a formal bid for the Coventry Building Society Arena despite offering more money than Mike Ashley.

King, whose takeover is subject to EFL approval, purchased an 85 percent stake of City, which was sanctioned the day before a court hearing that confirmed Ashley's purchase of the three businesses that ran the stadium.

According to Coventry Live, a £25 million verbal bid was submitted by King at the hearing, but the offer was not "capable of consideration" as Ashley had been granted exclusivity for the deal.

This unfortunately prevented King from being able to purchase the CBS Arena, ensuring Coventry City had a permanent home in the process.

The Sky Blues were given an eviction notice from Mike Ashley's company, Frasers Group with the club being told they must agree a new license to play at the stadium with the old agreement being made with the previous owners.

That agreement was due to last under 2031, with Frasers Group presenting less favourable terms that would last only until May 2023.

It's another huge blow for the Sky Blues who have had to contend with plenty already this season.

Stretching from the pitch issues, to Wasps' administration and now this.

Despite this, Mark Robins has been able to steer the team away from the bottom of the table and into playoff contention despite the uncertainty of where they will be playing their football.

The Verdict

The timing of the deal must be frustrating for many as the announcement of King taking over the club came at a time where the process of the stadium issues looked to be drawing to a positive solution.

That hasn't been the case and with the takeover still yet to be approved by the EFL, it's no doubt leaving many supporters uncertain and frustrated over the future of their club.

That being said, if King's takeover is sorted then the club can begin their long-term planning whether that's building a new stadium, or coming to an agreement for the CBS Arena.