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Port Vale: Chairman reveals cost of League 1 football

 


According to the Stoke Sentinel, Port Vale chairman Norman Smurthwaite says he will invest £1m to prop up the club this season – but has warned he won't do the same in the next campaign.

The chairman made the statement on Twitter in response to a supporter who asked if there was any truth to rumours that the club was losing "vast amounts" of money.

Smurthwaite said: "I have stated on several occasions that I will have paid in £1m in this season, so yes we are. This will not be repeated in 14/15."

The news comes despite the fact the Valiants are averaging 7,406 home attendances this season.

The chairman revealed in May that an average attendance of 6,500 was being built into the budget.

However, Smurthwaite revealed at the start of the season that the club's player wage budget is running at £2.5m, the maximum allowed by the Football League which limits it to 60 per cent of the club's turnover.

LM

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