The crisis facing Port Vale has deepened after chairman Peter Miller resigned from his position as a director at the club. This means that Port Vale have fewer than the four directors required by law for the club to function properly.
Miller had been widely criticised by supporters after he accepted payment for a position that did not use to be paid. Shareholders would have had the chance to oust him at an extraordinary general meeting on March 13th, but that has now been postponed.
The crisis facing Port Vale has deepened after chairman Peter Miller resigned from his position as a director at the club. This means that Port Vale have fewer than the four directors required by law for the club to function properly.
Miller had been widely criticised by supporters after he accepted payment for a position that did not use to be paid. Shareholders would have had the chance to oust him at an extraordinary general meeting on March 13th, but that has now been postponed.
The possibility of going into administration is a major concern for supporters. The club has fallen behind on repayments of a loan of £1.8m from Stoke-on-Trent City Council with only part of the instalment of £19,000 due in February paid and over £9,000 outstanding. However, the Council have said that they do not intend to put undue pressure on the club.
On Saturday the Football League imposed a transfer embargo on Vale over an unpaid tax bill. Shirt sponsor Harlequin is currrently suing the club over the repayment of a loan of £125,000 and Vale are also in dispute with their match programme producer and an American firm which sponsored their pre-season tour to the US and Canada.