In 1999, a group of Icelandic businessmen formed a consortium to buy the club led by Gunnar Gíslason. The consortium Stoke Holding paid around £3.5 million. The deal was completed on 15 November 1999. The Icelandic consortium eventually took Stoke back the First Division via the play-offs in 2002 and consolidated the club in mid-table but were unable to mount a promotion attempt. The consortium made one last effort to gain promotion in the 2005–06 season after sacking Tony Pulis and replacing him with Johan Boskamp. He brought in a large number of foreign players and ultimately only managed a mid-table finish and the owners left at the end of the season.