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Tuesday, 6 March 2012

Port Vale Football Club is expected to go into administration today

Following the winding up petition that was presented by HMRC it looks as if Port Vale FC is to be put into administration.  An announcement was expected yesterday but was delayed as the club needed to get more information in order to apply for administration.  Stoke City Council, the clubs biggest creditor, has invested £600,000 to keep the club going after it paid back a large part of its loan to the Council.

The Valiants will lose 10 points, but administration will save the club from liquidation.

Read our new pages on "The effect of a winding up petition on a football club" and " The football creditor's rule"

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