Stoke City debt

[TWGL1]

https://www.bbc.co.uk/sport/football/60847179

How can such an amount be wiped , I thought you could only convert so much per season ?

[Eric the Half a Bee]

Re: Stoke City debt

https://www.bbc.co.uk/sport/football/60847179

How can such an amount be wiped , I thought you could only convert so much per season ?

How can £120m of shareholder loans be written off?

[J R Hartley]

Re: Stoke City debt

160m raised from the misery of others. Chicken feed to Bet 365.

[NYCBlue]

Re: Stoke City debt

A bookie owns an English Football League team? HOW THE **** is that legal?

[Whisperer]

Re: Stoke City debt

A bookie owns an English Football League team? HOW THE **** is that legal?

It's in Ray Winstone’s name.

[The Lone Gunman]

Re: Stoke City debt

A bookie owns an English Football League team? HOW THE **** is that legal?

Why would it be illegal?

[WJ99mobile]

Re: Stoke City debt

Why would it be illegal?

Conflict of interest?

[The Lone Gunman]

Re: Stoke City debt

Conflict of interest?

In what respect?

[The Lone Gunman]

Re: Stoke City debt

How can £120m of shareholder loans be written off?

A quick Google reveals that a number of clubs have had larger sums converted from debt to equity in recent years (Fulham = £424 million, Man City = £304 million, Chelsea = £340 million), so it's obviously allowed.

Of course, at Cardiff City the fans have been told their owner can't convert all of his debt to equity due to one set of rules or another. If memory serves, Malaysian financial rules were given as the reason at one stage.

[cityhammer]

Re: Stoke City debt

In what respect?

Well if players/coaches etc can’t place bets it seems strange that a betting company can actually own a club!

[The Lone Gunman]

Re: Stoke City debt

Well if players/coaches etc can’t place bets it seems strange that a betting company can actually own a club!

It obviously doesn't contravene any rules. After all, it's not as if Bet365's ownership of Stoke is some closely-guarded secret.

Do you also think it's strange that betting companies are allowed to sponsor clubs, as many do?

[JamesWales]

Re: Stoke City debt

Honestly football finances and clubs abilities to rack up such ridiculous debts completely baffle me

[Citizen's Nephew]

Re: Stoke City debt

160m raised from the misery of others. Chicken feed to Bet 365.

This nails it for me. It'd be like a club being owned by Smack 365.

[WJ99mobile]

Re: Stoke City debt

It obviously doesn't contravene any rules. After all, it's not as if Bet365's ownership of Stoke is some closely-guarded secret.

Do you also think it's strange that betting companies are allowed to sponsor clubs, as many do?

A owner can have a direct impact on a clubs performance and have undue influence.

A sponsor cannot

[The Lone Gunman]

Re: Stoke City debt

A owner can have a direct impact on a clubs performance and have undue influence.

A sponsor cannot

Define 'undue influence'.