Administration fears for Port Vale

Administration fears for Port Vale

The Sentinel newspaper has reported what many fans fear – that Port Vale FC could be on the brink of administration.

This weekend, the Football League imposed a transfer embargo, which meant former Vale player Chris Birchall was unable to make his return to the club against Northampton Town.

In recent weeks, Vale have missed a £19,616 instalment on their £2.25 million city council loan, been sued by their Essex-based shirt sponsor Harlequin Property over the repayment of a £125,000 loan, and taken out a £277,000 mortgage on Vale Park with Gibraltar-based Continental Solutions.

They are also in dispute with the Milton Keynes-based company who produce the matchday programmes, and the American sponsor of their tour to the United States last summer.

A statement issued by Vale’s vice-chairman, Mike Lloyd, said: “We are behind with payments because of a revenue shortfall.

“The various (anti-board) campaigns and increased overheads, coupled with lower match attendances nationally, have had a huge effect on income, circa to a loss of £200,000 so far this season.”

Neither Lloyd nor chief executive Perry Deakin responded to Sentinel requests to discuss the club’s plight on Sunday.

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