Frasers Group, owned by former Newcastle owner Mike Ashley, took over the stadium in November and the Sky Blues have been asked to leave.
The Sky Bet Championship club are next due to play at home against Swansea on December 17.
"Coventry City can confirm that it received an eviction notice from Frasers Group, new owners of the Coventry Building Society Arena, on Friday afternoon," a club statement read.
"Following the Frasers Group acquisition of the stadium from administrators, Coventry City have been told that we must agree a new licence to play at the Arena.
"We were surprised to learn of this intention by Frasers Group, given that discussions with Coventry City prior to the completion of their purchase of the Arena led us to understand the existing terms would continue unchanged with Frasers Group as the new owners of the Arena.
"Coventry City Football Club has an existing long-term licence to play at the Arena, which was agreed in March 2021 to run until 2031.
"Frasers Group have now presented to Coventry City a new agreement with new commercial terms, which have been presented to us without any dialogue or negotiations, and are less favourable to the football club. In addition, this licence would only run until May 2023.
"Frasers Group have said they would negotiate for beyond May 2023, but this leaves us without the security and certainty that our current deal provides to us and our fans.
"To confirm, Coventry City are happy to continue under the terms of the current licence which we already have in place to play at the Arena.
"Following Frasers Group's purchase of the Arena, one of the great assets of the city of Coventry, they stated they were 'looking forward to working with Coventry City Football Club'.
"Coventry City hope that they will act on those words for the good of the Arena, the football club, our fans and the city and community that they are now part of."
Last month, the club agreed, subject to EFL approval, to sell a majority stake to local businessman Doug King who will buy an 85 per cent stake in the Sky Blues.
The deal involves clearing all of the club's current debts and Coventry had been planning to make an equity bid to buy the stadium, following the administration of former owners Wasps but lost out to Ashley.
It is the latest stadium issue the Sky Blues have suffered with the club having played in Northampton for a year in 2013-14 and spent two seasons at St Andrew's in Birmingham until 2021.
They also played seven of their first eight games away from home this season after the Commonwealth Games Rugby Sevens tournament damaged the pitch.