Vital Football

Latest Stoke City News

Coates puts in new bid for Stoke

Coates puts in new bid for Stoke

Stoke City director and former chairman, Peter Coates has tabled a new bid to buy back the club from its Icelandic owners.

Having failed in his last attempt in Summer 2005, he has now given the Icelandic majority owners a new offer of £13m to buy back the club he sold to them in 1999.

Since then he has founded the very successful online bookmaker Bet365, which has boosted his personal fortune by several millon pounds.

The offer consists of a £4m payoff to the Icelandic shareholders, £6m to put into the club's running costs and to clear most of the debts and an extra £3m to the Icelandic shareholders if Stoke achieve Premiership status within three years.

He has vowed that any money he puts in will not be in the form of loan, but will be exchanged for shares.

We await and see what the Icelandic consortium make of the latest offer, but it seems quite likely that it will again be rejected as one of the conditions of the offer is that the Icelandics, in return, write off loans currently standing at £5m.


Click here to join in the debate on the club forum.

Writer:Chris Baldwin
Date:Thursday March 30 2006
Time: 1:46PM

Login to post a comment

Recent Stoke City Articles

Stoke Secure Amiens Win

Mame Diouf's second goal in as many matches saw us to a one nil victory over Amiens at the weekend.

Arnautovic Gets West Ham Move

Austrian forward Marko Arnautovic has now moved on to West Ham United after the club agreed to pay a record fee for the player.

AFCON Boost For League Sides From 2019

Changes to the African Cup of Nations have provided Premier League teams with a boost from the season of 2018/19.

Which Club Favoured Homegrown Players - 2016/17

Whilst Manchester United used more homegrown category players in the 2016/17 Premier League than any other team, Arsenal topped...

Archived Vital Stoke Articles

Vital Stoke articles from

Site Journalists

Tom Barker
Editor email
Profile

Current Poll (see more polls)

Stoke's 13th placed finish was...
Suggested By:
Brilliant, above expectation11%
About what I expected7%
Average4%
Below expectation42%
Poor, simply wasn't good enough36%
ScoopDragon Premier League Network Sites
Write for Vital Football
Latest F1 News
Latest Vital Boxing News
The Vital Football Members League

Recent Stoke City Results (view all)

Stoke City Fixtures (view all)

Vital Football Comment