Stoke make profit for first time since Coates family purchased club
Wednesday 30 September 2015 10:18, UK
Stoke have made a profit for the first time since the Coates family purchased the club nine years ago.
The Premier League club made a profit of £800,000 in the 12 months up to the end of March 2015.
And the figures provide a significant turnaround for the Potters, who reported a loss of £5m In the previous 12 months.
Stoke's annual turnover was £96m, thanks largely to TV income, and the club's annual wage bill rose slightly during the same period from £60.4m to £62.9m to reflect inflation and the quality of signings.
The club still owes money to the owners after they acted as principal benefactors for the task of gaining promotion, becoming consolidated in the Premier League and progressing towards being a regular top-10 club.
And the accounts reveal that Stoke City (Property) Limited, which owns the Britannia Stadium and Clayton Wood training ground on behalf of bet365, is now owed nearly £60m by the football club after a further loan of £2m (£18m in 2014) in the last financial year.
But the accounts stress that no interest is charged and that no repayment scheduled, and because the money is effectively owed to the club's owners, there is no financial risk to Stoke City FC.
