It emerged last month that King had been exploring the possibility of building a new 40,000-seater stadium at the site of Butts Park Arena, although the chairman of Coventry Rugby Club described the plans as "unfeasible".
The Sky Blues' agreement to play at the CBS Arena had been due to expire at the end of the 2027-28 season.
It has been a torturous time for supporters since they left Highfield Road in 2005. In that time they have had four stadium owners, four home grounds, three football club owners and countless protests.
But now, finally, the stadium, which was built for Coventry City, belongs to the club.
The club has not revealed how much it paid Fraser Group, however, it was last purchased for £17m in 2022 by tycoon Mike Ashley.
At the time, new owner of the club King made a last-minute bid of £25m to purchase the stadium, but a court ruled the offer was too late.
Related News
28 Feb, 2025
Wine: Duane Coates MW crafted for drinke . . .
07 Apr, 2025
Aston Villa can tap into market worth 'b . . .
24 Jul, 2025
Pregnant 'drug mule' Bella Culley reveal . . .
06 Jun, 2025
Whitby Whaler group offers varied progra . . .
23 Mar, 2025
Can Brisbane derby end Dolphins' post-Be . . .
07 May, 2025
Last Night in Baseball: Shohei Ohtani is . . .
22 Jul, 2025
Birmingham City confirm transfer as prom . . .
17 Mar, 2025
Trump and recent gains give the Californ . . .