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Stoke announce being debt free as Portsmouth enter administration

Stoke City have announced themselves debt free.

Yesterday, Stoke City have announced that they are externally debt-free on the day that Portsmouth went into administration.

Figures announced for the year 2008-09, the club's first season in the Premier League, show the Potters made a net profit of £503,000 at the end of the last trading year, after transfers, and had an increased turnover of £54m - up from £11m in their last season in the Championship.

Boss Tony Pulis, a former Portsmouth boss, said: "This is a great testament to the Coates family, who have put so much into the club.

"The chairman, Peter Coates, has been a fan since his boyhood and he knows this club inside out. He and his family have put so much into the club.

"This is a family club, run for the fans, and by local people. There should been an inquiry into how Portsmouth has been run."

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