I'm thinking there's something fishy about all of this, but can't put my finger on what it is yet: https://coventryobserver.co.uk/news/cbs-arena-owners-frasers-group-talk-of-plans-for-the-city/

It has been suggested that Ashley didn't want the Arena site for its present use, but saw it as potential redevelopment for warehousing and other support functions due to its proximity to the motorway network. If he was to seek redevelopment permission, building a replacement stadium might help ease approval. I suspect he's playing the long game.

That could be it. It'll be a shame if the stadium is torn down, I've been there a couple of times (not for football) & really like the venue.