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Chairman rebuffs offer to buy club

Chairman rebuffs offer to buy club

Stoke City chairman, Gunnar Gislason has rebuffed the offer by fellow director, Peter Coates to buy the club.

In a statement issued via the club's official web site. He said that Stoke Holdings S.A (the majority owners of the club) told Peter Coates, six weeks ago of their valuation of the club. and now Coates has offered a new deal at a lower valuation and said that this is non-negotiable.

Gislason said that the Icelanders are prepared to listen to offers if it is a 'fair valuation' of the club.

A worrying comment was that he continued to say that the current players' wage bill compared to attendances is far too high and although refuting suggestions that the club is in a 'financial mess', said that unless attendances improved the wage bill would have to reduced.

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Writer:Chris Baldwin
Date:Friday March 31 2006
Time: 10:35AM

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