Port Vale’s finances received a welcome boost after loans and an overdraft facility placed an additional £375,000 into the club coffers.|
A £125,000 loan with Coors brewery has been agreed and (despite rumours of possible legal challenges to the club’s application) a £250,000 overdraft facility has been agreed with the Co-Operative bank.
The latter was thanks to personal guarantees from the Vale board.
Chairman Bill Bratt told the official Port Vale website that the club’s finances were now stable and that allowing for average attendances of 5,000 next season, a small profit would be possible.
Bratt also confirmed that the club have plans to increase conferencing and commercial facilities and increase share capital.