Half of that figure is to funded by the taxpayers of Coventry. It is a sum that saw Laing O'Rourke paid £1.994m to speed up the building of the Arena and get it ready for the opening game of last season,which they failed to do and the stadium opened nineteen days late.
Other costs included £250,000 on the scoreboard and £150,000 on extra phones.
Tony O'Neill,Deputy Coventry City Council leader told the CET: "Looking at projects of equal size across the country,given that most projects over spend by twenty per cent,to come in at this level is good news for us. "It was originally £113.3m and now it's £118.7m. "Of course we are not happy this has come out of Council coffers but given the size of the project,I believe it is worth it."