Writer: Chris Baldwin
Date:Wednesday November 14 2007
Stoke City have revealed that last season's failed promotion push has cost chairman, Peter Coates £3m.
With the club's annual general meeting due next week, they've released the accounts for the 12 months up until the end of May 2007. These show that the club went heavily into debt in mounting last season's promotion push by taking on the likes of Lee Hendrie, Andy Griffin and Salif Diao.
These debts will have to be paid by Peter Coates. The owner, who is also chairman of Stoke-on-Trent based internet gaming group Bet365, has also pledged to continue the investment in the squad for this season and into the future.
I'm sure that the more hardened anti-Coates 'fans' will find something to moan about, but I feel that at least the club has one benefactor that is prepared to put his sizable fortune where his mouth is. Although it's not clear from this statement what the other directors have put into the club (if anything) over the past year. But Coates did confirm that all the existing directors' loans to the club have now all been turned into shares.
After the sales of Higginbotham, Russell and Hoefkens at the start of this season which has brought in around £4m, the club's transfer coffers are at least filling up with Coates promising that all this cash and some more is available to the manager should he need it. With Leon Cort's £1.2m transfer from Palace seemingly already agreed for January (less the fee for Clint Hill if he goes the other way), it still leaves a reasonable amount in the kitty for more new players.
In related news, many fans have commented on the apparent downturn in attendances this season but Chief executive, Tony Scholes told a meeting of the Potters Foundation last week that although attendances were indeed down on budget, it was only in the region of 700 per game (including away fans) and that their records show that attendances normally rose throughout the season, peaking in April as the season reaches it's climax. He felt that it was not accurate to compare the gates at the end of the previous season with those at the start of the following season.
Date:Wednesday November 14 2007
Diouf's mother dies in Mecca stampede (Tuesday October 6 2015)
Arnautovic named in Garth Crooks' team of the weekend (Monday October 5 2015)
Arnautovic wins AFC Bournemouth Man of the Match poll (Monday October 5 2015)
Arnautovic goal gives Stoke third successive Villa Park win (Monday October 5 2015)
Stats: Aston Villa v Stoke City (Monday October 5 2015)
Audio - Hughes On 'Excellent' Stoke (Sunday October 4 2015)
Team news: Aston Villa v Stoke City (Saturday October 3 2015)
The Stoke City Injury Table.. (Friday October 2 2015)
Stoke Are You Protesting? - Fans Unite (Thursday October 1 2015)
Ref Watch: Jones to officiate Aston Villa v Stoke (Monday September 28 2015)
|15. AFC Bournemouth||8||2||2||4||-2||8|
|Schelotto Discussing Leicester Move?
» Leicester City : 07/10/2015 18:05:00
|Defensive Resilience Delights Fuchs
» Leicester City : 07/10/2015 17:58:01
|Schlupp On Goal & Vardy
» Leicester City : 07/10/2015 17:47:00
|United Will Not Do A Liverpool!
» Man Utd : 07/10/2015 17:40:00
|Pardew On England - Wilf On Improvement
» Crystal Palace : 07/10/2015 17:34:01