Coventry City have agreed a one year deal to remain at the Ricoh Arena.
The club have agreed with Wasps and ACL a stay until 2019 paying one hundred thousand pounds in rent.
Whilst, a year's deal is a positive sign, it is a long way off the long term deal that will secure the club's future, that many supporters and MP's are demanding.
Nick Eastwood said about the deal in a press statement: "The agreement which was put in place to allow the football club to return to the city is in its last season. We fully appreciate the importance to Sky Blues supporters of their club playing in their home city, so we have agreed to a one-year extension with the football club.
“CCFC have on numerous occasions expressed their wish to move to a stadium they own, but with those plans not yet realised this agreement will give the Sky Blues an extra year to secure a new home.
“This is certainly not a commercially-driven decision, and there are plenty of financial and other arguments for us not continuing with any agreement, but we do not wish to see the football club disadvantaged.
“We understand the importance to supporters and the city itself of having Coventry City playing in Coventry. That has been at the forefront of our thinking, despite the significant distraction of the current legal proceedings.
“It is widely known that there are obstacles – in the form of the current legal proceedings – which stand in the way of a longer-term agreement.
“We believe it is important for all parties concerned that we clarify at this stage that, unless those obstacles have been overcome by the time those discussions for the 2019/20 season would normally commence, then, regrettably, we will not be in a position to enter such discussions.”