The owners of Stoke City FC have made a long-term commitment to the club after reducing debts by £160 million.
Bet365 group - which holds a majority stake in the Championship club - has converted £40 million worth of loans into equity in Stoke City Holdings Limited and have also waived £120 million of shareholder loans.
Stoke City is owned by the Coates family - who also own bet365 - and are worth an estimated £8.4 billion.
Joint chairman John Coates said: "Converting £40 million of loans into equity and waiving £120 million of loans greatly strengthens the club's balance sheet and also provides more long-term stability for the club.
"On the field, the last four or five years have not proved to be as successful as any of us would have hoped. However, our commitment to the club, its future success, financial sustainability and place at the heart of our local community remains as strong and focussed as ever."
The debt reduction comes weeks after Stoke City FC unveiled major plans to redevelop the bet365 stadium and the Clayton Wood training ground.
More than £4 million will be invested in facilities ahead of the 2022/23 season, including the installation of 8,400 seats.
Other work to be carried out this summer includes the complete transformation of Delilah's Bar into a contemporary sports bar, installation of new toilet facilities in the Tile Mountain and South Stands, refurbishment of the Players' and Stanley Matthews lounges and installation of a new synthetic, all-weather pitch at Clayton Wood to be used by first-team, Academy line-ups and women's side.
