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Post by lordb on Mar 2, 2012 13:38:15 GMT
Before Coates' s kids made him a fortune he was quite happily ruining Stoke City FC. Or are we not allowed to mention this any more? Before Coates' s kids made him a fortune, he obviously didn't have the funds to plow in to the club like he does now, I'd call that more like keeping the club afloat. In terms almost ruining the club how about the shower that came in after him? sorry but thats nonsense Coates spectacularly got things wrong season-season out in the decade he had in control before some of the decisions he made we're so poor that the club was in deep doo doo in 1999.
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djh
Youth Player
Posts: 309
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Post by djh on Mar 2, 2012 13:49:52 GMT
Before Coates' s kids made him a fortune he was quite happily ruining Stoke City FC. Or are we not allowed to mention this any more? Before Coates' s kids made him a fortune, he obviously didn't have the funds to plow in to the club like he does now, I'd call that more like keeping the club afloat. In terms almost ruining the club how about the shower that came in after him? What those people who actually saved the club from financial meltdown?
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Post by matisfaction on Mar 2, 2012 13:56:30 GMT
Before Coates' s kids made him a fortune, he obviously didn't have the funds to plow in to the club like he does now, I'd call that more like keeping the club afloat. In terms almost ruining the club how about the shower that came in after him? What those people who actually saved the club from financial meltdown? I don't remember many Stoke fans being that appreciative of the board when they were around? I didn't say that Coates was the world's greatest chairman at the time. I just find it odd how some fans expect chairman to plow endless streams of funds into their club even if they don't have it, I remember a lot of that when Coates was in charge, like there was this mythical vast fortune he was sitting on?
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Post by Titan Uranus on Mar 2, 2012 13:56:37 GMT
Before Coates' s kids made him a fortune he was quite happily ruining Stoke City FC. Or are we not allowed to mention this any more? Before Coates' s kids made him a fortune, he obviously didn't have the funds to plow in to the club like he does now, I'd call that more like keeping the club afloat. In terms almost ruining the club how about the shower that came in after him? Deary, deary me
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Post by dexter97 on Mar 2, 2012 13:58:19 GMT
That's all it is though, a possibility with not much to back it up either way. Not quite the stone cold certainty you made it sound there Huddy. Normally I'd be very sympathetic but Port Vale from front to back, top to bottom, are such a poisonous and frankly stupid football club that I really couldn't give a shit what happens to them. Not too fussed about the club myself, however it's the good work they have done in the community that's at threat. As a football fan I wouldn't want to see any club go under, however there really should be stricter "fit and proper" tests prior to any takeover. There was somebody from the Football League on the radio earlier in the week talking about the "fit & proper persons" test. He said that even if they suspected someone of being a bit shady, they had to be 100% sure of the party's "impropriety" in order to avoid legal challenges to a decision to prevent them taking control. He claimed that the League didn't have sufficient financial resources to thoroughly research / investigate the cases, and were even less able to defend their position in court. Basically, it's a free-for-all.
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Post by Titan Uranus on Mar 2, 2012 13:58:53 GMT
What those people who actually saved the club from financial meltdown? I don't remember many Stoke fans being that appreciative of the board when they were around. Those Icelandics ( ) eh..?? We would have been up the creek without a paddle matey.
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Post by matisfaction on Mar 2, 2012 14:10:58 GMT
I don't remember many Stoke fans being that appreciative of the board when they were around. Those Icelandics ( ) eh..?? Exactly my point, slightly hypocritical wouldn't you say?
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Post by Titan Uranus on Mar 2, 2012 14:17:07 GMT
Those Icelandics ( ) eh..?? Exactly my point, slightly hypocritical wouldn't you say? Dunno.. you called them a shower who almost ruined the Club. what's your point?
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Post by Lakeland Potter on Mar 2, 2012 14:22:31 GMT
Ironically, both Coates and the Icelanders have plus marks and minus marks to their name. When Coates sold a majority stake to the Icelanders they probably saved us from a lot of grief - although I don't think we would have folded - and there is no doubt that Coates at the time didn't have the resources to take us forward. When the Icelanders sold the club back to Coates the debts had grown to reach £10 million and the club would have had severe financial problems if Coates had not bought it back. However, you could argue that his golden share acted as a disincentive to any other investor buying the club from the Icelanders. In the end, by some strange twist of fate, everything seems to have worked out for the best. Unless your name is hudsongod, of course!
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Post by Deleted on Mar 2, 2012 14:42:02 GMT
Those Icelandics ( ) eh..?? Exactly my point, slightly hypocritical wouldn't you say? Stoke could well have ended up like Vale had the Icelanders not come in.
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Post by williescity on Mar 2, 2012 14:43:39 GMT
Come on Stokies keep comedy alive in the Potteries - Save Port Fail !
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Post by matisfaction on Mar 2, 2012 14:46:28 GMT
Exactly my point, slightly hypocritical wouldn't you say? Dunno.. you called them a shower who almost ruined the Club. That's what most Stoke fans were saying at the time yes, there was also a lot of people moaning their bag off when Coates came back if i remember correctly?
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Post by Deleted on Mar 2, 2012 14:47:45 GMT
Dunno.. you called them a shower who almost ruined the Club. That's what most Stoke fans were saying at the time yes, there was also a lot of people moaning their bag off when Coates came back if i remember correctly? At what time? When they arrived, when they left, halfway through?
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Post by matisfaction on Mar 2, 2012 14:57:46 GMT
That's what most Stoke fans were saying at the time yes, there was also a lot of people moaning their bag off when Coates came back if i remember correctly? At what time? When they arrived, when they left, halfway through? Does it matter? They may/could have probably "saved the club from financial ruin" But you wouldn't have known it when you had fans calling up radio stations moaning to anyone who will listen to them.
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Post by Deleted on Mar 2, 2012 15:00:20 GMT
At what time? When they arrived, when they left, halfway through? Does it matter? They may/could have probably "saved the club from financial ruin" But you wouldn't have known it when you had fans calling up radio stations moaning to anyone who will listen to them. Yes it does, because it suggests it might be a bit more complicated than just calling them 'a shower' and hailing Coates. The Icelanders made a fair old pig's ear of things in the end, but had they not come along we would have been in what Private Hudson would call "some real pretty shit now".
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Post by Fenparkpotter on Mar 2, 2012 15:00:42 GMT
I really don't recall the Icelanders ever being referred to as a "shower"... some of their decisions were questionable, and they could have done things better, but all in all they didn't do a bad job at all.
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Post by matisfaction on Mar 2, 2012 15:02:10 GMT
I really don't recall the Icelanders ever being referred to as a "shower"... some of their decisions were questionable, and they could have done things better, but all in all they didn't do a bad job at all. Did you ever listen to 606 back then?
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Post by Deleted on Mar 2, 2012 15:07:03 GMT
I really don't recall the Icelanders ever being referred to as a "shower"... some of their decisions were questionable, and they could have done things better, but all in all they didn't do a bad job at all. Did you ever listen to 606 back then? Ah yes, 606, home of the reasoned football discussion ;D
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Post by Fenparkpotter on Mar 2, 2012 15:12:01 GMT
I really don't recall the Icelanders ever being referred to as a "shower"... some of their decisions were questionable, and they could have done things better, but all in all they didn't do a bad job at all. Did you ever listen to 606 back then? 606, Radio Stoke... talk to people... more often than not people didn't discuss the running of the football club from what I recall, which can only mean things were running alright
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Post by matisfaction on Mar 2, 2012 15:12:44 GMT
Did you ever listen to 606 back then? Ah yes, 606, home of the reasoned football discussion ;D They had to stop taking calls from Stoke fans in the end because everyone else were sick of hearing about the icelandics
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Post by Deleted on Mar 2, 2012 15:18:00 GMT
Ah yes, 606, home of the reasoned football discussion ;D They had to stop taking calls from Stoke fans in the end because everyone else were sick of hearing about the icelandics Again, at which point? Just because they made a mess of things in the end doesn't mean they didn't do anything good. Where do you think the club was headed before they came in?
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Post by swampmongrel on Mar 2, 2012 15:21:44 GMT
Ironically, both Coates and the Icelanders have plus marks and minus marks to their name. When Coates sold a majority stake to the Icelanders they probably saved us from a lot of grief - although I don't think we would have folded - and there is no doubt that Coates at the time didn't have the resources to take us forward. When the Icelanders sold the club back to Coates the debts had grown to reach £10 million and the club would have had severe financial problems if Coates had not bought it back. However, you could argue that his golden share acted as a disincentive to any other investor buying the club from the Icelanders. In the end, by some strange twist of fate, everything seems to have worked out for the best. Unless your name is hudsongod, of course! Good post. Coates wasn't really that interest in Stoke City back in the 90s (at least that's the way it came across). Owning a football club and it's associated perks were obviously very good for his business interests and he hardly made any attempt to attract new investment. Indeed, when he did sell to the Icelanders (ics) he was the first person to sell SCFC shares above the £1 price that they were traditionally traded for and he kept control through the infamous 'Golden share'. The Icelanders did a pretty good job but they were hamstrung by that 'Golden share' and some shockingly short termist decision making (namely the Brits location and financing) which was Coates responsiility. Obviously Coates has more than made up for it and his recent actions are nothing short of outstanding philanthropy but the Coates of the 1990s had very different priorities than the one we, thankfully, have today.
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Post by Davef on Mar 2, 2012 15:55:26 GMT
When the Icelanders sold the club back to Coates the debts had grown to reach £10 million and the club would have had severe financial problems if Coates had not bought it back. Were the debts that large? I was under the impression that Coates spent £7M to both buy the Icelanders' share and clear the club debt. Could be wrong though.
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Post by Lakeland Potter on Mar 2, 2012 16:05:10 GMT
When the Icelanders sold the club back to Coates the debts had grown to reach £10 million and the club would have had severe financial problems if Coates had not bought it back. Were the debts that large? I was under the impression that Coates spent £7M to both buy the Icelanders' share and clear the club debt. Could be wrong though. The debt was certainly over £8 million and I have a figure of close to £10 million in my mind. Coates only cleared some of the debt and the Icelanders were (amazingly) persuaded to clear the rest. I'm not sure of the exact proportions - nor do I know whether Rawlins and Humphreys cleared any debt or (more likely) capitalised it. In addition, when we reached the Prem, Coates paid the Icelanders a contingency fee of a further £2 million ish.
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Post by Caerwrangonpotter on Mar 2, 2012 16:35:15 GMT
To the tune of the Do Ron Ron Ron. "Admin on a Monday & my heart stood still....The Vale are gone gone, the Vale are gone" "They owe the Council thousands who wont foot the bill.....the vale are gone gone, the Vale are gone!" ;D This HAS to be sung tomorrow! Caerwrangon in new chant shocker! ;D
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Post by matisfaction on Mar 2, 2012 19:25:41 GMT
They had to stop taking calls from Stoke fans in the end because everyone else were sick of hearing about the icelandics Again, at which point? Just because they made a mess of things in the end doesn't mean they didn't do anything good. Where do you think the club was headed before they came in? You could say the same about Coates, we were never really in any fiduciary trouble until he eventually sold up. NOT perfect and I wasn't a huge Coates fan myself back then but at least we were stable and still had some good times. Hardly the miserly kill joy sitting on a huge pile of cash, like some would of have you believe.
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Post by Deleted on Mar 2, 2012 19:33:59 GMT
Again, at which point? Just because they made a mess of things in the end doesn't mean they didn't do anything good. Where do you think the club was headed before they came in? You could say the same about Coates, we were never really in any fiduciary trouble until he eventually sold up. NOT perfect and I wasn't a huge Coates fan myself back then but at least we were stable and still had some good times. Hardly the miserly kill joy sitting on a huge pile of cash, like some would of have you believe. You could say the same thing about Coates in that his second spell has totally atoned for his first. The actions of Coates and Humphreys (and Moxey) held the club back for a long time before they sold up. You talk about what people on 606 were saying about the Icelanders and the time, but believe me there was no "boo hoo, he doesn't have much money" sentiment in the mid-90s when he was selling Pesch and such. The good times under Lou were very much in spite of the people running the club at the time and very much an anamoly.
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