BBC SPORT Arabic Spanish Russian Chinese
BBCi NEWS   SPORT   WEATHER   WORLD SERVICE   A-Z INDEX    SEARCH 

BBC Sport
 You are in: Football: Teams: Port Vale  
Sport Front Page
-------------------
Football
Teams
Statistics
FA Cup
Eng Prem
Internationals
Champions League
Uefa Cup
Eng Div 1
Eng Div 2
Eng Div 3
Eng Conf
Scot Prem
Scottish Cup
Scot Div 1
Scot Div 2
Scot Div 3
Europe
Africa
League of Wales
Cricket
Rugby Union
Rugby League
Tennis
Golf
Motorsport
Boxing
Athletics
Other Sports
-------------------
Special Events
-------------------
Sports Talk
-------------------
BBC Pundits
TV & Radio
Question of Sport
-------------------
Photo Galleries
Funny Old Game
-------------------
Around The UK: 
N Ireland
Scotland
Wales

BBC Sport Academy
BBC News
BBC Weather
SERVICES
-------------
LANGUAGES
EDITIONS

Monday, 16 December, 2002, 17:46 GMT
Vale go into administration
Spectators at Vale Park
Vale will need their supporters to rally round
Cash-strapped Port Vale have had their application to go into administration accepted.

Vale are reportedly 2.4m in debt and losing around 500,000 a year and the Inland Revenue and Custom and Excise are owed 600,000.

The Professional Footballers' Association have given the administrators a loan of 34,000 to help the club on a short-term basis.

And the move into administration will shield the club from its creditors while it searches for a buyer.

Vale are now in the hands of Ian Rose and Bob Young from accountants Poppleton and Appleby after the application was accepted by the High Court in Birmingham.

Supporter-based buy-out group Valiant 2001 are hoping to take over the club but the club's administrators are likely to wait to see if there are any rival offers.

Two other parties have already expressed an interest and the club is expected to be advertise for other bidders in the national press on Tuesday.

Port Vale are required to reappear in court on 3 February for a second hearing.


Full analysis
Click here for all the latest from the My Club section


Match coverage
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Port Vale stories are at the foot of the page.


 E-mail this story to a friend

Links to more Port Vale stories

© BBC ^^ Back to top

Sport Front Page | Football | Cricket | Rugby Union | Rugby League |
Tennis | Golf | Motorsport | Boxing | Athletics | Other Sports |
Special Events | Sports Talk | BBC Pundits | TV & Radio | Question of Sport |
Photo Galleries | Funny Old Game | N Ireland | Scotland | Wales