Former Newcastle United owner Mike Ashley has landed on his latest venture.

Ashley's Fraser Group has put in a £17 million bid for three struggling businesses related to the Coventry Building Society (CBS) Arena.

The former Sports Direct Tycoon will now control the Coventry City stadium, with the club currently playing in the Championship.

Per Chronicle Live, Coventry City chief executive Dave Boddy last week said: “The Football Club has had brief initial discussions with the Fraser Group regarding the future of the Arena and their interest in it, and they have given us assurances that the Sky Blues continuing to play at the Arena is very much part of their plans, should they purchase the Arena."

Ashley has been wanting to get back into sport ever since he sold Newcastle to a Saudi Arabia-backed consortium in October 2021.

His Fraser Group may also be looking at purchasing Gieves & Hawkins, a business in Savile Row's tailoring profession.