City set for eight-figure bill after promotion to Premier League confirmed

That's according to football finance expert Kieran Maguire, who has totted up the price of alterations to the CBS Arena to bring it up to top-flight standards. Premier League grounds must adhere to certain standards in order to host games in the world's most watched league, some of which the CBS Arena doesn't currently meet.

The good news is a massive jump in TV revenue, projected ticket sales, merchandise and other factors will help cover the cost. The bad news is the privilege of playing in the Premier League doesn't not come cheap, as explained by University of Liverpool lecturer Maguire.

"The way that it works is they get a very large wedge of money from the Premier League normally at the end of June as a significant proportion of the TV money," he told CoventryLive. "I think they get around about 60 per cent of the base fee when they turn up.

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"So, yes, it will be an exciting time both on and off the pitch for Coventry. And they'll have to incur some infrastructure costs as well in order to make sure that the lighting is HD compliant for Premier League standards.

"They might have to increase the size of the car park for journalists and for the big wagons that come in from the TV company, because you are fishing in a completely different pool to that of the Championship. And that's no disrespect to the Championship. I think it's the most exciting league in Europe."

According to Maguire, the guaranteed reward for promotion, largely owing to the share of broadcast revenue, is around £100million. That means owner Doug King can expect to be given around £60m of that figure not long after this season wraps up.

There's a baseline for clubs expecting to play in the Premier League as certain criteria need to be met. There are certain expectations in regards to seating and space for broadcasters to set up their gantries, as well as executive boxes.

When asked about the average cost club tend to pay upscaling their venues following promotion to England's top tier, Maguire replied: "£10m to 15m. Setting up things for VAR, for example. I think Luton didn't get much change out of £20m [when they renovated Kenilworth Road following promotion]. But theirs was a complete revamp."

Not that Maguire is expecting the stadium costs to get in the way of the Sky Blues spending their funds in more fun ways. In fact, he has forecasted the club will break its transfer record "on multiple occasions" in the coming months.

The Coventry Telegraph has produced a stunning special edition marking the achievements of Frank Lampard and his men.

And to celebrate, the Coventry Telegraph has produced this stunning 48-page special edition marking the achievements of Frank Lampard and his men.

Since relegation in 2001, the Sky Blues have gone through many well-documented lows, but a quarter of a century later, free-scoring City have earned promotion in emphatic style.

And our bumper special edition is the perfect souvenir to remember that fantastic achievement by.

We'll have match reports, pics, and reaction from every kick of City's journey back to English football's promised land.

It's all here... the avalanche of goals pre-Christmas that made promotion look nailed on, the brief wobble that followed, and the revival under Lampard to consolidate their position at the top of the table.

Plus, Sky Blues writer Andy Turner will have pages and pages of in-depth analysis on the title-winning season, manager Lampard's success, key players, and what lies ahead for the club in the top flight.

Club historian Jim Brown will also share his fact-filled take on promotion, while there will be pictures and reports from the Sky Blues' joyful promotion celebrations.

A promotion rival like Ipswich Town or Southampton will benefit from their grounds already ticking a lot of the right boxes. Owing to their more recent experience in the Premier League, those clubs will make a saving on stadium upgrades given they'll already be in place.

In the grand scheme of things, however, it's a small price to pay for getting back to the promised land for a the first time in a quarter of a century and one both King and the fans will be more than happy to pay if it means delivering Premier League football once again.