Stoke City Council To Place Port Vale In Administration
By Community | March 2, 2012
Stoke-on-Trent City Council is looking to place Port Vale, who were hit with a winding-up petition by HM Revenue & Customs over an unpaid taxes a few days ago, in administration.
The League Two side, currently under a transfer embargo, will be deducted 10 points when they go into administration, moving them out of the play-off places an into the bottom half of the table.
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.”
Mo Chaudry, who had a bid of £1.2million for 54% of shares rejected last summer, has been tipped as the club’s likely saviour and currently monitoring developments very closely.
An emergence meeting was called on Sunday by Port Vale Supporters’ Club Chairman Pete Williams, who issued this statement: “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.”