Stoke City Holdings Limited, which holds a 98.1% stake in Stoke City Football Club Ltd and owns Stoke City (Property) Limited in its entirety, has been demerged from the bet365 group.

The amendment to the ownership model has been implemented for licensing reasons by the 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.

John Coates confirmed that future investment and development plans are unaffected by the change.

“My family and I remain steadfast in our commitment to Stoke City, so it’s very much business as usual,” he said.

“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.”