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Admin may now be Monday £600k loan

Fosse69

By Fosse69
in Port Vale present

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Bald Eagle Proficient

Bald Eagle

Posted
Posted
Like everyone in Stoke-on-Trent av been reading/listening for info on us going into admin,we know the COUNCIL are putting us there but there is one thing that I don't quite get and its the cost.Why do PVFC need a loan when the council are the ones putting us there ? I could understand if we were the ones applying for voluntary admin then we would have to fund it but I would have thought if others were applying they would have to fund it themselves then they get their money back through the process of the admin.

 

1) Because an administrator wont take the job unless he knows he will get paid, and

 

2) MOLD have bled all the cash out of the club, and therefore if we are placed in admin unless the administrators can quickly raise sufficient cash to enable us to trade in the short term then he would have no alternative but to put the club into compulsory liquidation:(:(

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tonyh Newbie

tonyh

Posted
Posted
You can still send players out on loan though to reduce the wage bill - Portsmouth have.

Leaving us with a squad of ...?

Richards needs an operation, so I imagine that counts him out and he's by far the biggest earner.

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