Popular football blog Two Hundred Percent has published their take on Vale’s administration nightmare.
The feature begins: “200% has observed events at Burslem from a distance over the summer, as Port Vale appeared to be slowly edging towards an exit from administration. In recent weeks, Vale have begun to slowly edge nowhere. In the first of a two-part piece, Mark Murphy summarises what has happened, and what hasn’t happened at the club since April. In part two, he will try to detail why.
Last April, there were three bidders interested in buying League Two Port Vale out of administration Since then, a preferred bidder was selected, proof of funds produced, a Company Voluntary Arrangement (CVA) agreed with creditors, including the local authority, ownership documents signed and the preferred bidder declared “100% owner” of the club. At the time of writing, there are three bidders interested in buying League Two Port Vale out of administration. So why has so much happened, yet nothing changed? First signs were good, even to the jaundiced eye required to look at modern-day football club administrations. Co-administrators Bob Young and Gerald Krasner of Begbies Traynor selected their preferred bidder using the straightforward criteria of who offered the most money to creditors…”
To read the full feature click here: