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Port Vale will need a £300,000 loan from Stoke Council to enter Administration.
Such is the poor state of their finances, they will need the loan for any Administrator to legally allow the business to continue. The current board have no power to put the club into Administration itself and will need the Council to do the deed after loaning them the additional cash.
The loan is expected to be secured on the club's stadium, as is the Council's existing £2.25million loan, with the Council admitting they have to make a quick decision and are seeking 'specialised advice'.
Meanwhile, fans will fund the club coach for their trip to Accrington on Saturday if the club itself is unable to pay the bill. Gareth Owen, the club's PFA rep, says the players are preparing to go without pay for at least two months after being told they would not be paid on Tuesday night as expected. He is hoping the PFA will help subsidise wages, but they won't put sums up unless there are guarantees about the club's future.
