Coventry City Council have said that they will work with Wasps, who own all the shares in Arena Coventry Limited to develop the land around the Ricoh Arena.
Speaking to the Coventry Telegraph's Simon Gilbert, Councillor Kevin Maton said: “There is a recognition that it is a site with lots of potential that has never been exploited for one reason or another.
“There is a feeling Wasps will want to work with the clients they have, in terms of the venue being more than a sports arena.
“It is for them to come up with ideas and use the land in a way that will reinforce their business plans.
“Obviously a hotel would do that, but there maybe other ideas.
“It is about working in partnership with us as the freehold owners to exploit the opportunities there.
“They are obviously the stadium operators, but the venue is part of wider plans for economic development.
“From our conversations with them, they are committed to doing that.”
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