Political Economy of Football
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Port Vale Could Fail

 

28/02/2004

League One's Port Vale faces financial problems in part because their shirt sponsors have not paid up on their contract. Loss-making mobile phone group Tricelli owe the Burslem club 92,000. Tricelli say they are still going to pay up but two of the company's trading arms are in administration and the payment looks very much in doubt. Chairman Bill Bratt and his six fellow directors have put in short-term loans to cover this month's wage bill of about 150,000 but the board needs to raise 350,000 by the end of the season to avoid financial meltdown. The club, which itself only emerged from administration less than two years ago after it was bought by a consortium backed by Robbie Earle, is losing 20,000 a home game because of poor attendances. Rivals Stoke City can offer Championship football and the Potteries district faces economic problems as its traditional ceramics industry continues to decline. Debts are in the region of 1.15m and some kind of financial restructuring is likely. One option that has been mooted in the past but has always been fiercely opposed by fans in the past would be a merger with Stoke City.

 


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