Stoke City free of external debt - now where's the sniping?

fbloke

Well-Known Member
Joined
26 Apr 2009
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13,303
Read the following and pleas explain to me how what Stoke's owners have one is any better than the Sheikh?

Stoke City free of external debt

Premier League football club Stoke City has said it is externally debt-free after it released figures for 2008-09, its first season in the Premier League.
It made a net profit of £503,000 ($765,000) at the end of the financial year, after transfers.
The Potteries club also had increased turnover of £54m, from £11m in their last season in the Championship.
The club's owners, the Coates family, have invested £17m interest-free and plan to put in another £24m.
"The club has invested heavily to put together a team capable of being capable in the Premier League, but this has come at a heavy cost in respect of the high initial player cost of investment and the consequential ongoing player wage bill," said club chairman Peter Coates.
He said that as well as investment on the player side, there had also been investment on the club's infrastructure.
The Britannia stadium is now fully owned by the club, following the acquisition by Stoke City Holdings Limited Group of the 51% shareholding in Stoke City (Property) Limited.
In addition, £800,000 has been spent in refurbishing the stadium and a new training ground is "taking shape" at a cost of £7m.


In fact the Coates family have only loaned the club money so they are in debt whereas HRH has written his debts off.

How come the press arent up in arms then?

Oh thats right they are white and english arent they.
 
I would prefer to see their full financial accounts to be honest, I don't believe anything I read in newspapers. If true about the interest free loan, you are correct that the club is still in debt, but more importantly, Coates is a cock, since he can claim tax relief on the interest of the loan.... so not charging interest is what a financially naive idiot would do imo...

Also, their wage bill will increase as they attract better more expensive players. probably lots of other things too but without their accounts its anyones guess.
 
According to the statement on the official Stoke site today chairman Coates and family are about to convert the £24 million that they have lent to the club into equity - so the club will be completely debt free.

Big smiles.
 
The Burner SCFC said:
According to the statement on the official Stoke site today chairman Coates and family are about to convert the £24 million that they have lent to the club into equity - so the club will be completely debt free.

Big smiles.

welcome to the debt free club ;-)

Still interesting to note that your club isnt being sneered at for doing it though?
 
The Burner SCFC said:
According to the statement on the official Stoke site today chairman Coates and family are about to convert the £24 million that they have lent to the club into equity - so the club will be completely debt free.

Big smiles.

There is to be a bouncy castle and a disco.
 
No snipping because they are not a threat to the establishment they are just a small irrelevant temporary resident of the PL
 
I am sure at the time Distin jumped to portsmouth the noses were the same at fratton park, maybe in 3/4 years we will be rid of the cloggers for good, although in the meantime relegation would sufice.
 
Just passed the Britannia Stadium on the train oddly enough and have to say that, while they may not be flavour of the month in East Manchester, Peter Coates has done an exceptional job as Stoke chairman.

Any money he's put in he will get back (if he ever sells) as he's increased the value of the club by far more than he has put in. He's built carefully and they are now at a point where they are established in the Premiership and can spend the money that brings. Pulis is a very shrewd manager and will gradually improve the squad year on year. I wouldn't be surprised to see them mount a serious challenge for a Europa League place in 3 seasons.
 
The Burner SCFC said:
According to the statement on the official Stoke site today chairman Coates and family are about to convert the £24 million that they have lent to the club into equity - so the club will be completely debt free.

Big smiles.

Another one on here.

FFS with such a magnificient club you can start you own forum.

Why Why Delilah are you on here.......

HaHaHaHahA
 

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