Have the council gambled?

[red_rose_valiant]

The council are going to be paying between £500,000 and £600,000 to put PVFC in administration and to keep it a going concern until the end of the season.

 

In anyone's books (bar Abramovich), that is a lot of money. The council have in effect paid this money out in order to best recoup what they are owed as creditors.

 

I believe they are alread confident of a buyer coming forward (who knows talks may already be ongoing), otherwise that is £500k of public sector money gone down the drain. If the council thought that a buy-out was not on the cards, they probably wouldn't have stumped up that cash.

 

Any other thoughts on this? I just can't see us getting to the end of the season without having an owner, purely from this financial point of view.

 

Paul.

[Timothius]

The figures you quote are the running costs until the end of the season. They need to have receipts deducted from them starting with tonights takings. It won't cost them anywhere near 500k.

[red_rose_valiant]

The figures you quote are the running costs until the end of the season. They need to have receipts deducted from them starting with tonights takings. It won't cost them anywhere near 500k.

 

Are the council not funding administration costs as well?

[soothsayer]

Don't under estimate the value of Vale to the local economy - pubs, shops, restaurants, local businesses etc. If Vale went under it could mean more jobs would go than just the staff of the club.

[Trentham Lakes Valiant]

The council are going to be paying between £500,000 and £600,000 to put PVFC in administration and to keep it a going concern until the end of the season.

 

In anyone's books (bar Abramovich), that is a lot of money. The council have in effect paid this money out in order to best recoup what they are owed as creditors.

 

I believe they are alread confident of a buyer coming forward (who knows talks may already be ongoing), otherwise that is £500k of public sector money gone down the drain. If the council thought that a buy-out was not on the cards, they probably wouldn't have stumped up that cash.

 

Any other thoughts on this? I just can't see us getting to the end of the season without having an owner, purely from this financial point of view.

 

Paul.

 

Not so much paying, as underwriting. PVFC will still be generating it's own income.

[Vale]

The cost is £750k minus income during the next 3 months and 6 home matches.

 

The more money raised and gate receipts then the less it costs the Council. The administrators will no doubt also make cuts to the running of the club so again there are more savings to be made

 

They have to underwrite the total cost and pay the shortfall

[BIRCHES HEAD WHITES]

The council are going to be paying between £500,000 and £600,000 to put PVFC in administration and to keep it a going concern until the end of the season.

 

In anyone's books (bar Abramovich), that is a lot of money. The council have in effect paid this money out in order to best recoup what they are owed as creditors.

 

I believe they are alread confident of a buyer coming forward (who knows talks may already be ongoing), otherwise that is £500k of public sector money gone down the drain. If the council thought that a buy-out was not on the cards, they probably wouldn't have stumped up that cash.

 

Any other thoughts on this? I just can't see us getting to the end of the season without having an owner, purely from this financial point of view.

 

Paul.

 

it would have been a far bigger gamble to let the club fold.

 

300 redundancies.

1.8 million of lost council money .

countless other creditors monies gone.

burslem finished as one of the six towns .

 

saving the vale was a no brainer and yes they have already sounded out a buyer !