Vital Football

Latest Stoke City News

Stoke confirm Coates as chairman

Stoke confirm Coates as chairman

Stoke City have today confirmed the appointment of Peter Coates as the new chairman of the club after he completed the purchase of all the shares from the previous Icelandic owners and outgoing chairman, Gunnar Gislason resigned yesterday.

There is going to be an press conference this morning, but the official website has said that Coates has paid £1.7m to the Icelandic consortium for their shares and he is paying £8.3m into the club to 'stabilize the club's finances, clear existing debts and provide funds to move the club forward'.

Coates, who returns to the role he gave up in 1999 says that he is 'delighted to have the opportunity to help move the club forward'.
Adding: 'The investment will transform the club's finances, clearing all shareholder loans and stabilizing what was a precarious financial position.
'The club will be largely debt-free and have a fresh start with a unified Board of Directors and a Senior Management Team.
'It's a return to local ownership with local decision-making and I am excited by the prospect of working with everybody at the club to try and bring success on the pitch. Our first task is to build a side capable of challenging for the play-offs with, of course, the ultimate dream being making it into the Premiership.'

In addition, it was also announced that all three remaining shareholders, Keith Humphreys, Phil Rawlins and Peter Coates will convert their existing loans to the club into shares.

After the turmoil of the last 18 months regarding the ownership and the obvious reluctance of the Icelanders to pump more cash into the club, we do now have a chance to move forward under Coates. It must be an advantage having the club under local management again. Let's hope Coates does not squander this chance.
He now has the opportunity to push forward, the first and most important action is the appointment of a new manager. We apparently know who that is. If it is to be Tony Pulis, then let's hope that it is the correct choice and we can, at last, begin to seriously challenge for re-admittance to the top tier of English football.


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

Writer:Chris Baldwin
Date:Tuesday May 23 2006
Time: 8:16AM

Comments

0
well us argyle fans hope this doesnt drag on much longer
green giant 12
23/05/2006 12:04:00
0
78% (today & counting on your poll) & a higher figure on other polls all say "no" tp TP. So while we (Stoke fans) also want closure on the manager situation, we don't want him.
stokebloke
23/05/2006 12:22:00
0
u dont want him, but its almost certain he's coming back
green giant 12
23/05/2006 12:52:00
0
Why don't chariman listen to their fans, who after all pay their wages.
miked_joker
23/05/2006 13:19:00
0
Yes, I agree & I'm almost resigned to it now. Shame they don't have those "smiley face" thingies on here but even if they did, it wouldn't have a frown big enough.
stokebloke
23/05/2006 13:19:00
Page 1/1
  1. 1

Login to post a comment

Best of Vital Network

Recent Stoke City Articles

Allen Gets Wales Call (26/5/17)

Stoke City's Joe Allen has been called up by Wales manager Chris Coleman for the coming international games.

Hughes - Crouch Has Plenty To Offer

Scoring with his head against Southampton, Crouch became the first to 50 headed goals in the Premier League - his 10th was also his best goals to minutes ratio since his Liverpool days.

Butland In England Return

One of four keepers, along with Southampton's Forster, Manchester City's Hart and Burnley's Heaton, Butland is in England contention for the first time since 'that' Germany game.

Hughes Thrilled With Southampton Win

Manager Mark Hughes has spoken of his delight at closing out the 2016/17 season with victory over Southampton last weekend.

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 expectation1%
About what I expected0%
Average0%
Below expectation66%
Poor, simply wasn't good enough33%
ScoopDragon Premier League Network Sites

League Table

# Team P W D L Pts. GD
C Chelsea 38 30 3 5 93 52
2 Spurs 38 26 8 4 86 60
3 Man City 38 23 9 6 78 41
4 Liverpool 38 22 10 6 76 36
5 Arsenal 38 23 6 9 75 33
6 Man Utd 38 18 15 5 69 25
7 Everton 38 17 10 11 61 18
8 Southampton 38 12 10 16 46 -7
9 AFC Bournemouth 38 12 10 16 46 -12
10 WBA 38 12 9 17 45 -8
11 West Ham 38 12 9 17 45 -17
12 Leicester City 38 12 8 18 44 -15
13 Stoke 38 11 11 16 44 -15
14 Crystal Palace 38 12 5 21 41 -13
15 Swansea 38 12 5 21 41 -25
16 Burnley 38 11 7 20 40 -16
17 Watford 38 11 7 20 40 -28
R Hull City 38 9 7 22 34 -43
R Middlesbrough 38 5 13 20 28 -26
R Sunderland 38 6 6 26 24 -40
Vital Football Comment
Latest F1 News
Latest Vital Boxing News
Write for Vital Football

Recent Stoke City Results (view all)

Stoke City Fixtures (view all)

The Vital Football Members League