UK time is: 12:25:26
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

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.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!


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

The Journalist

Writer: Chris Baldwin Mail feedback, articles or suggestions

Date:Tuesday May 23 2006

Time: 8:16AM

Your Comments (oldest first)

Change to most recent first
well us argyle fans hope this doesnt drag on much longer
green giant 12
Report Abuse
23/05/2006 12:04:00

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
Report Abuse
23/05/2006 12:22:00

u dont want him, but its almost certain he's coming back
green giant 12
Report Abuse
23/05/2006 12:52:00

Why don't chariman listen to their fans, who after all pay their wages.
miked_joker
Report Abuse
23/05/2006 13:19:00

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
Report Abuse
23/05/2006 13:19:00

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Stoke City Articles

Archived Stoke City Articles

List All Vital Stoke Articles
Have your say
Click here to suggest an article
Click here to suggest a poll
ScoopDragon Premier League Network Sites

Vital Members League (view all)

1. lloyd_17 9

League Table (view table)

Team P W D L GD Pts
6. Spurs 34 17 7 10 6 58
7. Southampton 34 17 6 11 21 57
8. Swansea 34 14 8 12 -3 50
9. Stoke 34 13 8 13 -3 47
10. West Ham 34 11 11 12 0 44
11. Crystal Palace 33 11 9 13 -3 42
12. Everton 33 10 11 12 -2 41

Breaking League News

Boss Looking For Two Wins
Sunderland : 26/04/2015 12:22:00
Stoke : 26/04/2015 11:59:00
Young guns - 2015-16 beckons!
Spurs : 26/04/2015 11:42:01
Full Facial
Aston Villa : 26/04/2015 09:32:00
Everton V Manchester United Match Preview
Everton : 26/04/2015 07:21:00

Current Site Poll (view all polls)

MOTM vs Sunderland
Suggested By:  
Begovic 0%
Cameron 0%
Shawcross 0%
Wollscheid 0%
Pieters 0%
N'Zonzi 0%
Adam 100%
Walters 0%
Ireland 0%
Arnautovic 0%
Diouf 0%
Crouch 0%
Odemwingie 0%
Bardsley 0%