Port Vale have officially entered administration and will be docked 10 points by the Football League.
The League Two side applied to the High Court in Birmingham to go into administration earlier this week, which has been granted.
Joint administrators Steve Currie, Gerald Krasner, Bob Taylor and Begbies Traynor will now take charge of the club and try to solve Port Vale's financial crisis.
The Valiants only sit two points adrift of the top seven in League Two but are expected to fall to 14th following the points deduction.
