Frasers Group plans to invest £600m in Coventry after buying the CBS Arena.
The Sports Direct owner has “huge” ambitions to grow its business, with Coventry a key focus.
Michael Murray, chief executive at Frasers and founder Mike Ashley’s son-in-law, said: “Relocating and future-proofing our capabilities is very important. Coventry is very well placed [considering] where our store estate is.”
Ashley bought the CBS Arena last month after former owner Wasps Rugby Club went into administration.
Frasers’ lease on its current HQ, in Derbyshire, expires in 2034. Murray stressed Frasers was committed to its existing site and was in the process of kitting it out with new technology.
Work on Frasers’ new site is yet to commence, with the business waiting on planning permission. The £600m figure would likely change with the cost of technology and building materials, Murray added, calling it “a figure in the air”.
