The Sky Blues are looking to use their option to buy their share in the Arena from the Alan Higgs Charity and have agreed to work with Arena Coventry Limited,using the same offices and share some staff roles starting in April.
Unfortunately, this will mean some redundancies and these are rumoured to be more Arena Coventry Ltd staff than City staff who were told about this at a meeting yesterday afternoon.
City have been hindered in their ability to trade since they moved to the Arena in 2005 and this has led to the Sky Blues going to the brink of administration.
Ray Ranson told the CT: "This is a very significant step forward for both organisations and for the supporters of Coventry City.
"Everyone knows that historically we have not benefited from every aspect of matchday revenue and that has been a problem for us.
"We said from the outset that we would attempt to address that situation and we and ACL have now agreed to look at ways in which that can be rectified through a number of joined up operations which will be mutually beneficial.
"The details of those are still being explored but I am now confident that there will be a time in the near future that every pound spent on a match day will in some way benefit Coventry City."