Stoke-on-Trent City Council propose Port Vale administration
Stoke-on-Trent City Council has declared its intention to place Port Vale in administration.
Earlier this week Vale, who are under a transfer embargo, were hit with a winding-up petition by HM Revenue & Customs over an unpaid tax bill.
Council leader Mohammed Pervez said: “We have given a clear steer to officers to explore putting Port Vale into administration.
“This is as opposed to liquidation, which would see the end of the club.”
Vale will be deducted 10 points when they go into administration, taking them from one place below the play-off places to the bottom half of the table.
The administrators will look to find a buyer to keep the club alive and they may turn to Mo Chaudry, who had an offer of £1.2m for 54% of shares turned down last summer and is watching developments at the club very closely.
Vale do not have the number of directors needed, by law, to function properly after former chairman Peter Miller resigned earlier this week.
Vale last went into administration in 2002 and were brought out of it the following year by a supporter-based group called Valiant.
In 2006, singer Robbie Williams invested £240,000 in the cash-strapped club.
Port Vale Supporters’ Club have announced an emergency meeting on Sunday.
The group’s chairman Pete Williams said: “It has been an horrendous few days for the club’s staff, the shareholders and the thousands of fans to whom Port Vale means so much.
“As and when the current regime leaves Vale Park we will be urging every supporter – lapsed or otherwise – to do everything they can to get behind the team and support the football club in any way they can.”