Chairman of the Supporters Club, Pete Williams, has told the Sentinel that Vale fans will be “forever grateful” for the financial support of Stoke-on-Trent city council.
The council, which was Vale’s biggest creditor at the time of the crisis, placed the club into administration in March to help secure its future in the wake of a winding up order for unpaid taxes.
It was owed £1.859 million from a £2.25 million loan deal signed in 2006. But the council have made a £1.5m loss on that loan with the paper confirming that the council will receive £200,000 from the club’s new owners – Paul Wildes and Norman Smurthwaite.
Council leader Mohammed Pervez said: “We want to see Port Vale succeed. A successful football club brings visitors to the city and Burslem, increasing footfall that supports local businesses and boosts the economy.
“As council leader I took the decision to support Port Vale as much as we could through some of the darkest days in the club’s history and at a time when the council was facing unprecedented financial pressures.
“We have been very clear of the financial implications of this decision from the start and the decision was supported by the full council.”
Williams added: “Port Vale supporters will be forever thankful to the city council for what they’ve done in helping to save the club.
“I feel they’ve recognised that if the club disappeared we would also be losing people’s jobs and an important part of Burslem.
“It would have been a tremendous loss. The importance of the club surviving is not something you can put a price on.”