Reports in the Staffordshire Sentinel claim that the Valiants are weighing up legal action after shirt sponsors Tricell allegedly failed to make an agreed payment.
The Sentinel claims that Tricell have failed to make their first installment of its £92,000 commitment to the club.
Vale Director Dave Smith told the Sentinel that “Bill Bratt has not got a cheque but he was told that Tricell chairman Andre Salt is in London to get all the money in one go by asking the administrator to release the funds.”
A statement from Port Vale said: “Tricell have indicated they will now try to pay all the money in one payment, rather than instalments. The club is seeking legal advice.”
The statement came after Tricell called in administrators to run two of the company’s departments.
Despite reports of Tricell paying up in one statement, Pat Papanicola, of Bond Partners, in London, the appointed administrator of Tricell UK and Tricell International told the Sentinel: “I’m not aware of anyone approaching me to ask for the release of funds.”