The new owner of Coventry City Football Club has said he is committed to making the Coventry Building Society Arena the club's long-term home.

Stadium owner Frasers Group plc and Coventry City FC have announced a five-year deal to keep the Championship club at the north Coventry arena, having already penned a deal to keep the side there until the end of this season.

New owner Doug King said he was "delighted" to sign the agreement, adding the club will continue to work to strengthen its "longer term" home at the arena.

The announcement throws into doubt previously announced plans with the University of Warwick to build a new stadium as part of a proposed eco-park on the outskirts of Kenilworth.

"We are delighted to sign this agreement, which we know will be welcomed by Sky Blues fans," Mr King said.

"This agreement will help to provide a period of further stability whilst we continue to build a positive future for Coventry City Football Club.

"The licence will enable us to play at our home, the Coventry Building Society Arena, for a minimum of five years and we will continue to positively engage with Frasers Group with regard to the longer term at the arena."

Mr King made a last minute bid to buy the stadium himself at the end of last year but it was instead sold to Frasers Group which is owned by Mike Ashley.

Michael Murray, CEO of Frasers Group, said: "Following our recent acquisition of Coventry Building Society Arena, we are committed to investing into the Arena and the local community, and therefore supporting its future growth."