In 1986, Peter Coates became majority shareholder at Stoke City and was appointed chairman in September 1986 taking over from Sandy Clubb. The club had been through a tough period with poor finances and a humiliating relegation in 1984–85. Coates backed Mick Mills in 1986–87 for a promotion push but they fell short and Mills had to sell players before making additions. In preparation for the 1989–90 season Stoke spent a combined £1million on new players with a then club record of £480,000 for Ian Cranson. However results were appalling and the team finished bottom of the table and fell into the third tier. In 1990 the Stoke City board consisted of six directors and it was agreed that a new share issue was needed, with the majority wanting the supporters to be free to purchase. Following disagreements regarding this share issue, several board members left and the board then consisted of Peter Coates, Keith Humphreys and David Edwards.