Stoke owners are the Coates family and Bet365.
Denise is sharp and ruthless, the family members who run the club not at all.
On 31st May 2022 the Group (Denise) waived £120m of Undertakings. They simply wrote off £120m of intra Group debt the club had in a single stroke. Bet 365 can do that and not blink.
Stoke lost £88m in the year to May 2020, largely as a result of writing off £73m in amortisation and impairment of players.
They lost a further £43m in year to May 2021, amortising and impairing the rest of their squad value. The nett book value of their squad is currently £6m
It is absolutely impossible for them to be FFP compliant given they lost £15m in 2019 too.
Clubs can not lose this and be FFP compliant. It is a shocker as a Ive posted many times before.
They have effectively lost a lot of money in the PL, then on relegation simply written off player values creating monster debt, incredibly dodged FFP through Covid and then simply waived what they've lost.
It leaves the club far less underwater than us, but still with £93m of negative nett shareholder value mainly through still owing Group £106m.
Of course an owner is permitted to inject equity or write off loans to keep a business afloat, BUT it is disgraceful that they have been allowed to account like this from an FFP perspective.
The whole point of FFP was to stop owners simply bankrolling losses the club can not sustain.
