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Administration of Port Vale (Valiant 2001) Football Club Ltd

Bob Young

Administration

| April 5th 2012

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Administration of Port Vale (Valiant 2001) Football Club Ltd

Bob Young, Gerald Krasner and Steve Currie of Begbies Traynor were appointed joint administrators of Port Vale (Valiant 2001) Football Club Ltd on Friday, March 9, 2012, following an order made by the High Court in Birmingham.

“Administration will allow us to stabilise the business in the coming weeks while we look for a buyer, and investigate the underlying reasons for the failure of the business,” explained Mr Young.

“The club continues to trade and we hope that the team's recent run of good form will continue against Barnet tomorrow. In the meantime we will continue to have dialogue with the club's stakeholders with a view to securing the future of the club and invite any potentially interested parties to make contact with us.

“We would encourage fans to attend and support the team both vocally and financially by contributing to the collections taking place around the ground.”

Bob Young

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Bob Young

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Bob Young is senior partner at Begbies Traynor in Stoke-on-Trent, a fellow of the Insolvency Practitioners Association (FIPA) and a member of the Association of Business Recovery Professionals (MABRP) - and has over 30 years' experience of corporate rescue and recovery, turnaround and corporate and personal insolvency work. Formerly a partner in Poppleton & Appleby, a director of PricewaterhouseCoopers and Official Receiver in Birmingham, Bob has built up a substantial following in Staffordshire and beyond, and he chairs the North Staffordshire Chamber of Commerce Business & Finance Committee.

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Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland
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