Efforts to allow Vale supporters to own a controlling stake in Port Vale have failed – says Chairman Bill Bratt.
A crucial Monday evening board meeting will now determine the future of the club.
Bratt told the waiting media: “The fans have come forward with some cash – but it’s not enough. The situation now is that there’s an offer in the pipeline through Charles Machin that we’ll be considering at the board meeting on Monday night.
“The door is always open for the fans, though. We’ve always said it’s preferable for the fans to own their own club, to keep it away from any one man who can do what he likes when he has over 50 per cent control.”