Stoke City Football Club is now owned directly by bet365 CEO John Coates, following the separation of Stoke City Holdings Limited and Stoke City Limited from the gambling operator.
Stoke City’s stadium and training ground are now wholly owned by the club, which has cleared its debts as a result of the deal.
The group said the change in ownership was made for licensing reasons and was “the best, most sustainable way for bet365 to continue its global expansion”. The club’s board of directors will remain the same, comprising John Coates, Richard Smith and Peter Coates.
Coates said:
My family and I remain steadfast in our commitment to Stoke City, so it’s business as usual. Infrastructure projects at the stadium and our training ground will continue at the same pace over the coming years, and Potters fans can be assured that investment in the playing squad will continue to be maximised in line with our competition rules. Everything we do is aimed at bringing long-term success to Stoke City and representing our fan base and local community in a way that makes people proud.
Bet365 remains based in Stoke-on-Trent, where it was founded, and has a long-standing association with the city’s biggest team, including stadium naming rights and shirt sponsorship.
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