Vital Football

Latest Stoke City News

Coates buys the Brit for £6m

Coates buys the Brit for £6m

Stoke City chairman, Peter Coates has agreed a £6m deal to buy the City Council out of the Britannia Stadium.

For the last ten years the Potters have jointly owned the ground with Stoke-on-Trent City Council and the developers, St Modwen after they assisted the club with the original development. The club owned 49% whilst the council owned 36% and St. Modwen had the remaining 15%. This joint ownership has often been quoted as standing in the way of the football club's growth and the previous Icelandic owners made an unsuccessful bid a few years ago to buy the other partners out.

Peter Coates made it a stated aim to reopen negotiations when he bought the club last summer and it now seems that this has borne fruit with today's announcement. This must be seen as good news for the club as it gives them full independence and provides some financial comfort now that they own a sizable physical asset. In the past the club have complained that the club only saw half the profits from sales of catering and hospitality on match days due to the shared ownership of the stadium.

The club are also still in negotiations with the Michelin Tyre company to purchase the training ground in Trent Vale which they have rented for the past ten years. If they can complete the purchase they are hoping to develop proper training facilities for both the first team and the Academy.

All this should be seen as good news for the club and they were at pains to point out that this money will not come at the expense of next season's player budget.



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

Writer:Chris Baldwin
Date:Thursday June 7 2007
Time: 9:23PM

Comments

0
This is an intereting story as it could happen that a private investor buys the new Colchester stadium from our council a few years down the line.
Matt_Us
08/06/2007 08:37:00
Page 1/1
  1. 1

Login to post a comment

Best of International Football News

Recent Stoke City Articles

Instant Reactions - Leicester v Stoke (24/2/18)

Following today's clash between Leicester City and Stoke City, here are the instant reactions from both managers.

Stats: Leicester City v Stoke City

All the stats from Leicester City (1) vs (1) Stoke City, King Power Stadium, 24/2/18 Att: 31,769

Team Sheets - Leicester v Stoke - 24-2-18

Stoke go to the King Power Stadium as the visitors to Leicester for the latest Premier League game.

24-2-18 - Follow Leicester v Stoke On Twitter

Stoke go to the King Power Stadium as the visitors to Leicester today, this will be a 3pm kick-off.

Stoke City Archived Articles

Vital Stoke articles from

Site Journalists

Write for Vital Stoke
Write For Vital Stoke
Apply Here

Current Poll (see more polls)

Leicester MotM
Suggested By: Site Staff
Butland1%
Bauer0%
Zouma0%
Martins Indi0%
Stafylidis0%
Cameron0%
Shaqiri66%
Allen33%
Ndiate0%
Choupo-Moting0%
Diouf0%
Sub - Campbell0%
Sub - Adam0%
Sub - Johnson0%
ScoopDragon Premier League Network Sites
Vital Football Comment
Latest F1 News
Latest Vital Boxing News
Write for Vital Football

Recent Stoke City Results (view all)

Stoke City Fixtures

The Vital Football Members League