Loft was last week involved in a training ground altercation with then-team mate Jones, who has since had his contract with the club terminated, as Vale prepared for their Sky Bet League One fixture against Notts County.
Both players were left out of the squad for the game on Saturday, which the Valiants lost 4-2, and after the match at Meadow Lane manager Micky Adams revealed the club were conducting an internal investigation into the incident.
As a result of that investigation Jones has had the remaining year of his contract cancelled.
On Tuesday morning, one tabloid newspaper printed a photograph of Loft's face under the headline 'disfigured' and went on to say that he had suffered broken bones in his nose, jaw and cheek.
Speaking about the incident, Loft told Sky Sports News: "There's a chance (of legal proceedings) but I just want to get my face right and then I will go away and talk with my family and decide about my future.
"I have never had a problem with Jonesy and he has never had one with me, as far as I know.
"We went into a tackle and as I was getting up off the floor he hit me. I fell backwards and sat on the floor, the gaffer sent him in and I went to hospital for X-rays. He texted me on the day and said sorry, that was it."
Loft will be out of contract in the summer and the 27-year-old is frustrated that the chance to possibly put himself in the shop window during the club's remaining four matches has been taken away.
He added: "At the minute I am angry. I have been playing really well and I was getting a lot of interest and I knew that people were watching me. I am annoyed and upset that I will miss the rest of the season."
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