Stoke-headquartered betting and gaming operator bet365 has implemented a structural change and demerger of Stoke City Football Club.
Having owned the English Championship club since 2006, the controlling stake in Stoke City is now owned outright by John Coates, who serves as co-CEO of bet365 alongside Denise Coates.
The amendment to the ownership model has been implemented for licensing reasons by the bet365 Group, having been identified as the “best, most sustainable way for bet365 to continue its global expansion” and for the club to continue to enjoy the long-term support of the Coates family.
All debts have been cleared as part of the transaction, with the Clayton Wood training ground and bet365 Stadium now owned directly by the club.
The club’s Board of Directors will continue to comprise John Coates, Richard Smith and Peter Coates.
“My family and I remain steadfast in our commitment to Stoke City, so it’s very much business as usual,” said John Coates, who confirmed that future investment and development plans will be unaffected by the change.
“Infrastructure projects at the stadium and our training facility will continue during the coming years at pace, and Potters’ supporters can rest assured that investment in the playing squad will continue to be maximised within our competition rules.
“Everything we do is geared towards bringing long-term success to Stoke City and representing our fanbase and local community in a way that makes people proud.”
bet365 will remain a principal partner and shirt sponsor of the club.