Coventry City Football Club (CCFC) has extended its deal to stay at the Wasps-owned Ricoh Arena for a further two years.

The League One club will play at the stadium until at least the end of the 2017/18 season after it lengthened its current license agreement, which was due to expire in August 2016, with operator Arena Coventry Limited (ACL).

CCFC moved back to the 32,000-capacity structure in August 2014 after spending a year playing at Northampton’s Sixfields ground following a dispute between the club and ACL. The arena, which was purchased by the Aviva Premiership club in October 2014 for £20m ($30.1m, €27.6m), was originally built for the football club in 2005.

The existing terms, which include £100,000 (US$148,833, €136,165) annual rent and CCFC retaining 100 per cent of ticket sales revenue, remain in place according to the Coventry Telegraph.

“I have already said on several occasions that it is important for us to have security about where we are going to play football next year and know our supporters and stakeholders join me in looking forward to an exciting second half of the season,” said Chris Anderson, executive vice chairman of CCFC.

Wasps group chief executive, David Armstrong, said the rugby team was “keen to work alongside the football club and for the Sky Blues to stay at the Ricoh Arena”, adding: “We look forward to continuing to build a strong working relationship with Chris Anderson and his team.”