Deakin’s Sentinel Interview – The Case Against M’Lud

IN an Interview with the Sentinel on 3rd March 2012 Perry Deakin says the financial mess he inherited last year is the main reason Port Vale are on the brink of administration.

The club’s chief executive admits he has made mistakes during his 12-month reign, not least when fans were given the impression he was personally investing in the club.

However, he says the main cause of Vale’s troubles was a cash-flow crisis which developed under former chairman Bill Bratt.

Deakin said: “Port Vale would typically start a new financial year, July 1, with about £750,000 in the bank from season tickets.

“That would see them through cash flow requirements throughout the season.

“But there were losses from previous years and, around the time of the EGM, the board had taken decisions such as paying back a brewery loan.

“With the losses, increased security and policing costs, and a fall in attendances, we actually started the financial year with zero in the bank.

“For a club like Port Vale, which needs to start with around £750,000 in the bank, that is a major problem.”

Mr Deakin is implying that the club was £750,000 light at the start of the financial year and he lists the repayment of the brewery loan and previous year’s losses as the reason. Mr Deakin sat next to Mike Lloyd at Baddeley Green in August when Lloyd claimed that but for the protests and the EGM the club would have made a profit for the financial year ending June 2010.  He also claimed that the costs of those two items was in the region of £100,000.  The deficit resulting from  those items must have been less than £100,000.  Mr Deakin did not make any attempt to contradict that figure.  The brewery loan was itemised in the 2010 accounts as £77,000 having reduced from £91,000 in the previous year.  Assuming that repayments had continued at the required rate, it suggests that the outstanding loan can only have been in the region of £60,000.  So we have accounted for approximately £160,000.  This does seem rather less than the £750,000 Mr Deakin mentions.  Continue reading

The Writing Is On The Wall …..

And it says ADMINISTRATION which we are informed is just a matter of hours away as the continued mis-management by Lloyd, Deakin, Oliver and Miller finally takes its toll on our once great club.

It’s a truly sad day for me as I shed a tear because administration is not the panacea some would have us believe it is. There are no certainties in administration other than all shareholders will lose their shares. However, that will give some supporters a crumb of comfort that all current and former directors will lose any power they may have held over the club created by the self-serving articles of association and their stranglehold on shares.

And so the V2001 experiment has come to an end, a nice idea in theory but in practice a complete failure as greed and ego’s took over and the minority shareholders and fans got ignored and shafted.

Monday 27th February looks set to be a sad day in the history of Port Vale but we have to hope there is a brighter future out there. That the right people are still interested and we can put the last 8 years of decline behind us.

The fans of Port Vale deserve much better, we don’t want anything special, we’re not glory hunters but loyal fans who just want to be listened to and respected, if that happens then I’m sure fans and owners will get on swimmingly well and the club will prosper once again.

I long for the day I will finally be able to forget about all the politics and just enjoy the football once again. That day can’t come soon enough for me, I don’t want to be protesting, to be staying away from my club, to be withholding my money, to be moaning and complaining on the radio, to the sentinel, on internet message boards.

I just want to be a football fan once again and I hope that this administration is the first day of the journey back to that.

And whilst I really aren’t a bitter person who holds grudges, I do despise the people who have done this to our club. Their incompetence has been breath-taking, their arrogance astonishing and they deserve to be punished for the damage and financial loss caused to hundreds of shareholders and creditors. They should be hunted down by the administrators for every penny, for the nil paid shares, the personal guarantees, by the police for the misleading lies to shareholders, they should be banned from ever being a director of any company and this website will try to ensure that no other football club will ever ever employ any of them ever again.

And one final word for Glenn Oliver, one of us, or so we thought! Mr Oliver will be remembered as the Vale fan that did more damage to Port Vale than any other Vale fan in living history. I hope you are happy with your legacy Glenn. You disgust me, you’re a pathetic excuse of a Vale fan. You allowed all this to happen on your watch and you should never ever set foot in Vale Park again.

Peter Miller Unplugged (2002) Pt 2

Publication Date: 03/17/2002    Publication: Daily Express by Lasana Liburd

[THIS is the second part of an insight of PETER MILLER, chief executive officer of the Football Company of Trinidad and Tobago (FCoTT), by Express football]

THREE years can seem a particularly long time in the world of football. Ask Trinidad and Tobago’s Dwight Yorke, who went from English Premier League giant Manchester United’s hotshot to surplus product, or Brazilian superstar Ronaldo, who slipped from global enigma to cameo appearances through a persistent knee injury. Or maybe you can speak to Football Company of Trinidad and Tobago (FCoTT) chief executive officer Peter Miller.

In 1999, Vibe CT 105FM W Connection president David J Williams sacked the Englishman in the inaugural season of the local Professional Football League (PFL). But, in 2002, it was Miller who seemed likely to play an important role in keeping the competition on track after the pull-out of chief PFL financier, FIFA vice-president and Joe Public club owner Jack Warner. Continue reading

Peter Miller Unplugged (2002) Pt 1

Gary Benson has sent the following article after tracking down a sports sports journalist Lasana Liburd of the Trinidad and Tobago  Express. Lasana  has kindly provided a story he wrote exposing Miller back in 2002, part 2 to follow soon.

Gary says ” The signs were there if the club looked but as usual and not for the first time, they acted recklessly and irresponsibly and we now find ourselves in dire straits”

At the time of the interview Miller was then CEO of the Football Company of Trinidad and Tobago (FCoTT)

Marketing genius or just a smooth talker?

IT IS a tumultuous time for the Trinidad and Tobago Football Federation (T&TFF) and, indeed, world governing body, FIFA, who have both been forced to go public with contrasting financial difficulties. Continue reading

A very brief history of our troubles

PORT VALE – THE BURSLEM PANTOMIME

In 2003 Port Vale was bought out of Administration by the Valiant 2001 group.  Part of the costs of purchasing the club were paid by shareholder investment but the bulk of the cash came via a loan from two Manchester businessmen.  From the very beginning of their time in office, V2001 was mired in debt.  Because they had saved the club, however, fans gave them full support and the directors involved in the buy out became heroes.  The remit of the directors was to seek new investment and sell the club on to folk who could be trusted with its future.  Sadly this has never happened.

In 2006 the club secured a loan of £2.25 million from Stoke-on-Trent City Council which was used to pay off the original, high-interest loan and give the club some working capital.  Some of this was used to complete a Children’s Centre in the unfinished Lorne Street Stand, which was rented back to the Council at a peppercorn rent.  A Business Enterprise centre was also built in the stand and, as far as I know, the units have never been fully occupied. Continue reading