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Birmingham Post
Birmingham Post
Business
Jon Robinson

Mark Stott wipes out £7.7m debt used to invest in Stockport County following takeover

Stockport County owner Mark Stott has cleared the £7.7m debt the club owed him that was used to invest in the then National League side following his takeover in January 2020.

In a statement, the now League Two club said the investment has been converted into equity.

The club added that they have no debt outstanding to Mr Stott for his investment.

READ MORE: Losses widen at Stockport County despite turnover rise

Chief executive Jonathan Vaughan said: "It has always been Mark’s plan to make sure the money he put into the club was gifted and did not want to burden the club with long-term loans.

"This puts the club in a strong financial position and for this, we are very grateful. His investment both on and off the pitch has been vital to securing promotion to League 2 and we hope to capitalise on this momentum as we look to climb the leagues."

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