Co-CEO of Bet365 assumes sole ownership of Stoke City Football Club

Lea Hogg August 6, 2024

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Co-CEO of Bet365 assumes sole ownership of Stoke City Football Club

Stoke City, a club in the English Football League (EFL) Championship, underwent a significant change in its ownership structure today. The club, which was once part of the Stoke City Holdings Group and online bookmaker bet365, is now under the sole ownership of John Coates, the co-CEO of bet365. This shift occurred following a strategic ‘demerger’, resulting in John Coates becoming the outright owner of the Potters.

The Coates family, whose history traces back to the 12th century, has been long associated with bet365, a giant in the online betting and gaming industry. The family’s roots are in Staffordshire, where they held large estates on the Salop, Staffordshire borders. Their legacy now continues with Stoke City.

Denise Coates, the visionary behind Bet365, is closely associated with her brother, John Coates. Together, they co-founded Bet365 in 2001, transforming it into one of the world’s leading online gambling companies. Denise, who serves as the joint-chief executive alongside John, has been instrumental in the company’s success. Their collaboration has not only propelled Bet365 to new heights but also established the Coates family as significant figures in the gambling industry. Despite facing criticism for their substantial earnings, both Denise and John have contributed to various philanthropic efforts through the Denise Coates Foundation, supporting numerous charitable causes.

With the new ownership model, Stoke City now fully owns its stadium and the Clayton Wood training ground. This move is part of a larger strategy to consolidate assets and strengthen the club’s financial independence. The club also reported that it has successfully cleared its debts, a process in which bet365 played a crucial role in recent years. The restructuring was deemed necessary to enable the club to be more competitive in the Championship.

John Coates, along with Richard Smith and Peter Coates, will retain their positions on the board of Bet365. “My family and I remain steadfast in our commitment to Stoke City, so it’s very much business as usual,” said John Coates. He assured that infrastructure projects at the stadium and the training facility will continue at pace, and investment in the playing squad will continue to be maximised within competition rules.

Stoke City, founded as Stoke Ramblers in 1863, is the second oldest professional association football team in the world. The club changed its name to Stoke in 1878 and then to Stoke City in 1925 after Stoke-on-Trent was granted city status. The club’s only major trophy was won in the 1972 Football League Cup Final.

This change in ownership marks a new chapter in the rich history of Stoke City. It’s a testament to the enduring commitment of the Coates family to the club and its supporters. As John Coates takes the helm, the legacy of the Coates family continues, promising a future that makes the fanbase and local community proud.