Lest we forget… we almost didn’t have a Port Vale to support

The Port Vale Supporters' Club meeting in January 2012 at which a letter was signed by fans calling for a police investigation into the club's affairs.

The Port Vale Supporters’ Club meeting in January 2012 at which a letter was signed by fans calling for a police investigation into the club’s affairs.

As Port Vale’s preparations for the new season continue, everything looks rosy.

Owner Norman Smurthwaite continues to please the faithful with his own unique brand of public relations.

The club has a popular new shirt sponsor in trade union the GMB and the impressive new club shop is the flagship for infrastructure improvements at Vale Park.

Season ticket sales are going well in the light of a remarkable, against-the-odds promotion to League One, and some quality additions to the playing squad have created a genuine buzz around Burslem ahead of the big kick-off.

So as an exciting new season dawns, is there any point – some will say – in dredging up the past?

Because that’s exactly what yesterday’s news about the liquidation process for Valiant 2001 and the ongoing police investigation does.

Many supporters have welcomed the announcement that insolvency practitioners Begbies Traynor have become liquidators for the company which formerly owned Port Vale.

But others may well question the merits of digging through the ashes of the most turbulent time in the club’s history.

Some may argue that it is perhaps better to let sleeping dogs lie and focus on all the positives as the club enjoys a much-needed period of stability in terms of finances and leadership.

For me, however, the situation just isn’t that simple and I am pleased that Begbies Traynor will soon be attempting to recover further monies it believes are owed to creditors.

As we all watched as the incredible promotion campaign came to a conclusion in May, a few of us still had half an eye on some unfinished business.

We knew the police investigation instigated by the Supporters’ Club into the activities of some former directors was still trundling along.

We also knew that the administrators for Valiant 2001 would very soon become liquidators and that their powers would increase dramatically as a result.

Now Begbies Traynor can throw their weight behind the task of determining whether there was any wrong-doing on the part of directors who ran Port Vale prior to March of last year.

I well remember, in the midst of the battle to remove the remaining members of Valiant 2001 from office, there was a very raw anger at the way in which fans – and especially shareholders – had been treated by the board of directors.

There was a belief, which I shared, that supporters had been misled over the proposed Blue Sky investment, misled over the issuing of so-called ‘nil-paid’ shares and not told at all about the infamous ‘Gibraltar loan’ which involved the re-mortgaging of Vale Park from under the nose of key creditor Stoke-on-Trent City Council.

I recall how Supporters’ Club members canvassed fans on the turnstiles before one home game in 2011 about the election of Perry Deakin and Peter Miller to the board of directors in the mistaken belief that they had personally invested £100,000 and £250,000 respectively into Port Vale.

Of course, it was subsequently revealed that neither man had paid for the shares which they used to vote themselves on to the board and which, effectively, devalued the shares owned by more than 900 ordinary fans.

These supporters dipped into their savings and used their hard-earned wages to buy shares in the belief that they were helping their club and would forever own a little piece of their beloved Vale.

To have those shares – hundreds and sometimes thousands of pounds’ worth – wiped out when the club was placed into administration by the city council was a bitter pill to swallow.

There is no doubt in my mind that the Supporters’ Club was right to ask Staffordshire Police to investigate the running of Port Vale by a board discredited in the eyes of many fans.

I am convinced that, if financially viable, the liquidators should use all powers at their disposal to chase up monies owed to Valiant 2001 – thereby recouping as much cash as possible for out-of-pocket city council taxpayers.

In my opinion this genuinely is a case of justice being seen to be done in the eyes of those who lost out and were treated so shabbily by some former Port Vale directors.

It’s about making sure that every single penny that can be recovered for creditors is recovered and perhaps ensuring that fans of other football clubs don’t suffer the same losses and humiliations inflicted on Vale supporters.

We can, of course, all look forward to the new season but it does us no harm whatsoever to remember how close we came to not having a Port Vale to support.

Read my Personally Speaking columns every Tuesday in The Sentinel and my Vale columns every Friday, during the season, in The Sentinel

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