Doug King confirmed as Coventry City's new owner

Stratford Upon Avon businessman, Doug King has been confirmed as the new majority owner of Coventry City Football Club.

Hi purchase from SUISU Capital was approved by the EFL , confirming him as new majority owner with 85% ownership of the club.

The deal involves clearing all of the Club’s debts which the Sky Blues says will provide "a new start for the Club under fresh ownership."

King owners Yelo Enterprises. based in Stratford-upon Avon, which has reported to invest £70m in the region through state-of-the-art oilseed processing facility that run on renewable energy.

King said: “I am honoured and excited to be taking this Club forward into its next chapter.

“To get this deal ratified in just over six weeks and over the Christmas period was a great effort from all involved.

“Already I have been struck by the enthusiasm of Sky Blues fans, with many personally wishing me well and I thank them for those sentiments.

“I am looking forward to the future of this great Club and what we can achieve together.”

Joy Seppala, of SISU Capital Ltd, said: “Coventry City’s future is bright under Doug King’s leadership.

“Enthusiasm, determination and commitment are precisely what this great football club will have with Doug, and I look forward to watching Coventry City go from strength to strength.”

The club continues to lease their home ground the CBS Arena, which is owned by Mike Ashley.