Port Vale chairman Norman Smurthwaite says he has personally put £500,000 into the club this season – double the amount he planned to do.
Under financial fair play rules, club’s spending is dictated by income and Vale’s season ticket sales have decreased to 3,100 this summer compared to 4,300 last season.
However, the club have still added several key players – such as Michael O’Connor, Michael Brown and Byron Moore – to their squad despite the decreased season ticket income.
I will get us to the Championship in my tenure if time allows…
Wealthy club owners, such as Brentford’s Matthew Benham are able to boost their club’s spending power by personally donating money. This is allowed under FA rules as long as the money is not a loan and this is the path that Smurthwaite has now adopted for the Valiants.
He told the Sentinel: “I have blown the budget to pieces. I said I would put in 25 per cent, but I will end up putting in 50 per cent to support the squad. So, £500,000 has gone in by myself.
“But at the end of the day I have a responsibility to do what is best for this club and that is trying to get it progressing up the table and into the Championship.
“I can take the club to the Championship, but beyond that the job is too big for me. I haven’t got the resources to do that.
“But I will get us to the Championship in my tenure if time allows. Then hopefully one of these big, foreign investors will come in and buy it off us.
“This city needs two Premier League clubs in it – and one day it will have it.”