The second-tier side had received an eviction notice from former Newcastle United owner Mike Ashley's firm which acquired the stadium last month, the club said a week ago.

"This represents a positive step forward for the club and its fans and we now look forward to establishing a constructive working relationship with Frasers Group," Coventry wrote on their website.

The new licence will run until May 2023 and is subject to the English Football League's (EFL) approval, which is expected to be granted on Tuesday, the statement added.

"Coventry City will now commence amicable talks with Frasers Group with a view to agreeing a longer-term licence for the club to play at the Arena."

Coventry, who are scheduled to host Swansea City on Saturday, stand 15th in the table with 29 points from 20 games.