Mike Ashley makes stadium move with Sunderland's Championship rivals set to get new landlord

Ashley was today identified as the preferred bidder for the Coventry Building Society Arena, which is also home to stricken Premiership rugby club Wasps.

Coventry have a point less than 16th-placed Sunderland in the Championship.

A statement from the 32,609-seater stadium’s owners read: “Arena Coventry Limited, Arena Coventry (2006) Limited and IEC Experience Limited have confirmed that they have applied to the Court for the companies to be placed in administration. The companies, and the proposed administrators from FRP Advisory, have run an accelerated sales process to sell the business and assets of the Companies, and have identified a preferred bidder. The Arena will continue to trade as normal. We are delighted that the doors will remain open to this flagship venue.”

Ashley sold Newcastle last October to a consortium led by Amanda Staveley for £305million.