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Supporters Club Update (16/8/12)

Memphis

By Memphis
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Memphis

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Representatives of Port Vale Supporters’ Club (SC) Committee had a positive meeting today with Administrator Steve Currie of Begbies Traynor to discuss the running of the club and be updated on the takeover progress. The SC stressed the urgent need for the club to start working with supporters rather than against them in the club’s hour of need.

 

As the Administrators have set a target of 5,000 through the turnstiles for each game, we all need to be singing from the same hymn sheet, all with the same purpose of saving our football club.

 

The SC will be working closely with the club to help bring in much-needed income through various revenue streams such as sponsorship and advertising. We will be giving more details of how you can help and what opportunities are available to supporters, sponsors and local businesses.

 

Today the Administrators revealed that a fourth interested party had contacted them while Steve Currie has said initial talks are being held with a fifth bidder over the weekend. Meanwhile, further talks will be held tomorrow with another of the interested parties.

 

The Administrators have agreed to run Port Vale until the end of April 2013 if necessary but they have asked us to make it clear they will not be taking any more funding from Stoke-on-Trent City Council.

 

We have also had confirmation that Begbies Traynor will not be taking a cut from the club income despite the considerable expense which will be incurred by the company as a result of this commitment. The reason they agreed to do this is because they are very confident a buyer is out there and the sale of Port Vale will be completed, hopefully sooner rather than later. It is, therefore, in the interests of the Administrators to find a buyer as soon as possible in order to reduce their costs. It is most definitely not in their interests for matters to be dragged out more than is absolutely necessary.

 

They have, however, said that once the club was sold, if during the period they had controlled the club it had made a profit, then they may take a percentage of that for payment towards their fees.

 

SC Chairman Pete Williams said “I don’t think this is an unreasonable request by the admins considering the great expense they will be faced with and before they take a penny they have to turn Port Vale into a profit-making company, which has to be a good thing.”

 

Steve Currie has said that he will be having a greater involvement in the running of the club, including the day-to day decision-making. He said, “Whilst the current management team are in situ they will be working under the full instruction of the Administrators and do not have the authority to commit the club to any liability without the Administrators’ prior approval.”

 

Mr Currie also confirmed that the refreshments around the ground and the alcohol sales have now been renegotiated with new suppliers, as a result of which Port Vale FC now benefits financially from all sales. Previously this wasn’t the case, with all monies going to Azure.

 

Supporters’ Club Chairman Pete Williams said, “I’d like to pass on my thanks to all supporters who, over the last ten days, have helped the club in the clean-up operation, thus assisting the club in the preparation of the ground for the new season.” Mr Williams went on to say, “I’d like to ask all supporters who are in a position to do so, to support the team in any way they can”

 

“All the previous directors have been removed. We know that the money we now spend is going back into our club and we have a number of interested parties looking to buy us.”

 

“Let’s show the City Council, the Administrators and the interested parties we’re worth saving and let’s turn out in force to back the lads and show we’re serious about saving our club”

 

The SC has not heard from Mr Ryder since Monday 6th August and neither have the Administrators

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andy jones Veteran

andy jones

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I am worried that its a first past the post bidding process now.

 

Who is to say that the fastest of the 4 or 5 bidders is the one best for the future of PVFC?

 

From the above I also worry that the Administrators will also be easily pushed to accept the first offer in order for them to get out of the Vale as quickly as possible.

 

I, personally, would have preferred the Administrators to set a date that bids have to be in by (say end of September) and for all bids to be then judged on their merits.

 

However, i would echo Pete William's comment that it is now entirely in the fan's hands to support the club financially wherever possible so that we are sold as a viable going concern.

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Fosse69 Veteran

Fosse69

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I am worried that its a first past the post bidding process now.

 

Who is to say that the fastest of the 4 or 5 bidders is the one best for the future of PVFC?

 

From the above I also worry that the Administrators will also be easily pushed to accept the first offer in order for them to get out of the Vale as quickly as possible.

 

I, personally, would have preferred the Administrators to set a date that bids have to be in by (say end of September) and for all bids to be then judged on their merits.

 

However, i would echo Pete William's comment that it is now entirely in the fan's hands to support the club financially wherever possible so that we are sold as a viable going concern.

 

But any buyer has to agree terms acceptable to the council for the current CVA or renegotiate, also approval from the FL. The land covenants also have to be agreedl which could deter developers from out of the area. Since we are in Admin it is out of our hands, but the council will have a big say, hopefully with an interest in the future of the Vale.

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