New Coventry City majority owner Doug King spoke to BBC CWR on Thursday about the future of the Coventry Building Society Arena.
Following a court hearing placing the Arena companies into administration, the group of companies were purchased by Frasers Group.
The announcement on Thursday afternoon followed earlier news that day of the Sky Blues' intention to purchase the Arena, after Doug King was announced as new majority owner of the Club (subject to EFL approval) on Wednesday evening.
"We came in very late, we only got the deal done last night (Wednesday) and obviously the judge made the call that there was too much uncertainty at this point for him to entertain we were serious,” King told BBC CWR.
"We were deadly serious, we had the interim funding, we would have certainly paid more than was on the table.
“So, all in all, it's a tough result, but it is what it is. I want to support the club and get it where it deserves to be.
"What I would obviously welcome is a discussion with the new owner (of the Arena), to get together and maybe get involved that way and obviously for him to honour our ability to play there through the length of lease we signed a couple of years ago. They're the critical things."