Get all your news in one place.
100’s of premium titles.
One app.
Start reading
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."

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.