The lease owned by Coventry City Council has been sold to previous Chairman Andrew Green in 2006, but when he left, the administrators took over the lease.
After much negotiation between Coventry Rugby Club and the Council, Coventry Rugby Club now have their home back thanks to benefactor John Bowles and his Perpetual Legacy charity.
Peter Rossborough told the CT: "We have now secured a clean sheet and our destiny is in our own hands.
"We have reached a binding position between the Butts Park Ventures administrator, the bank, the rugby club, Perpetual Legacy and the city council to give the club a secure home, as was always intended.
"This allows the club to move forward free from any liabilities or encumbrances from the past.
"We are only at the beginning. We need continued and growing support but we certainly have that. Any new money coming in will now be applied to our future not our past.
"The club, under its new board, can now move forward to rebuild both the finances and sporting prowess of the club so that it can begin its journey to being one of the most important rugby teams in the country again."
Coventry Rugby Club's re-arranged play-off fixtures are:
Saturday 27.03.10- Cov v Birmingham & Solihull
Saturday 03.04.10- Cov v Moseley
Sunday 18.04.10- Birmingham & Solihull v Cov
Saturday 24.04.10- Moseley v Cov
Saturday 01.05.10- Cov v Moseley
All 3.00pm kick off.
Picture copyright of Kerin Sohanta.