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Coates sweetens deal

Coates sweetens deal

Stoke City director, Peter Coates has sweetened the deal he is trying to do with the Icelanders for control of the club.

The Sentinel is reporting that he has put another £1m on the initial deal that was offered to the Icelanders a couple of weeks ago and is now offering £5m up front but only £2m if the Potters win promotion within three years. He is obviously hoping that this will prove attractive to the Icelandic majority shareholders as it gives them more in their hands now.

As part of the deal, they will still be expected to write off the £5m that they had loaned to the club.

It is also reported that Magnus Kristinsson, the major shareholder in the consortium, would like to sell, but other members of the consortium are not yet convinced.

Peter Coates is keeping a diplomatic silence.

In my humble opinion, it looks like we are in a position where a deal could now be done.

Chief Executive, Tony Scholes has also said that nothing has been decided about John Rudge's future, therefore leaving the way open for his return from suspension after Boskamp has departed (which now looks certain after the manager's remarks at the weekend)

From the fans' viewpoint, if a deal is going to be done it must be now or we risk going into the close season with no team manager and no clear sense of direction.

Grand National

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

Writer:Chris Baldwin
Date:Tuesday April 25 2006
Time: 5:58PM

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Comments

0
As well as a sweetener, has he tried offering a 2 for 1 deal on 1KG packs of breaded cod, with a spicy 9" deep pan thrown in for good measure?
FEn_100
26/04/2006 02:16:00
0
is he going to be able to follow up the initial purchase up with a follow up investment to allow spending?
vertigo_red
26/04/2006 13:45:00
0
They say they've got plenty of cod up there, but could he add some chips?
stokeitup
26/04/2006 13:47:00
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