Stoke City announce fresh update over financial future

Stoke City have been struggling in the league this season and have seen themselves fall down the Championship table this campaign but there has been a positive update elsewhere today.

As reported on the club’s official website, the Potters have had some cash injected into their coffers and that has enabled the club to clear a large chunk of its debts.

In fact, the money – that has come via putting money into equity and writing off some shareholder loans – has equated to a total of £160m, which is a massive chunk that has now been written off by the bet365 group.

The good news is that financially, it is seen as a positive step for the side. With the ownership group willing to put money into the side, it means that they are planning for the future and want to continue to ensure the smooth running of the Potters on a regular basis.

On the field, Stoke have been struggling in recent weeks under Michael O’Neill. Having once been seen as play-off contenders, they have now slid down the division and are in the bottom half of the table, sat in 15th.

It has led to reports that the owners might try and swap their current boss for former Norwich manager Daniel Farke, who is well-versed in taking a team out of the league and up into the top flight.

Off the pitch though, Stoke have managed to handle the financial side well it appears.

Speaking about the latest injection, John Coates said: “Converting £40m of loans into equity and waiving £120m of loans greatly strengthens the Club’s balance sheet and also provides more long-term stability for the Club.

“On the field, the last four or five years have not proved to be as successful as any of us would have hoped. However, our commitment to the Club, its future success, financial