Port Vale: Business associates in twin bid to rescue the Vale
PAUL Wildes and his business associate Norman Smurthwaite are in pole position to become the new owners of Port Vale Football Club.
They are due to be unveiled as the new preferred bidders for the club by Vale's administrators tomorrow.
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Vale Park
Wildes, a 35-year-old Sheffield-born venture capitalist, has a wide portfolio of business interests and is now based in the Cheshire area.
He is expected to link up with retired finance expert Smurthwaite, a fellow director of Altrincham-based firm Alchemy Investment Group, as part of a long-term plan to revive Vale's off-field fortunes.
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Wildes, who is involved in businesses ranging from hotels and hospitality to property development, recruitment and hairdressing, has links to Stoke-on-Trent as a former finance director of the Caudwell Group.
He put together a rescue package to save troubled Darlington Football Club earlier this year, but eventually pulled out after failing to reach a settlement with out-going chairman Raj Singh.
He had planned to make more of the Quakers' 27,000 seat stadium as a concert venue and training academy, and it is understood he could have similar plans for Vale Park.
Port Vale Supporters' Club chairman Pete Williams is keen to find out more about the duo, but said: "The administrators have asked us all along to respect the confidentiality of any possible new owner so, until a preferred bidder is named, I won't comment on speculation.
"But I hope whoever the new preferred bidder is turns out to be genuine this time, and that he can take Port Vale forward.
"We've been invited to the club tomorrow and we'll presumably find out more then."
Wildes was finance chief for Caudwell before leaving to launch his own company, the Mansion Group, in 2007. It specialised in developing student accommodation.
He has since launched holding company Wildes Group, which has a number of subsidiaries and is involved in hotel development.
He also runs venture capital holding company Wildes Securities, which operates several beauty salons, and owns financial recruitment agency Wildes Group Recruitment and W Academy and Education, which provides apprenticeships for students in Sheffield and the North West.
Wildes is thought to be a Sheffield Wednesday fan, which could lead to some boardroom banter with manager Micky Adams, who has supported city rivals United since he was a boy.
Once Wildes and Smurthwaite have been formally named as preferred bidders, they will have to seek Football League approval before they can finally take charge of the club, which has been in administration since March.
Neither man was available for comment last night.
Rigg reveals his goal: Page 43
Comments
by doubty
Monday, October 15 2012, 11:14PM
“use link and then click on key financials.”
by doubty
Monday, October 15 2012, 11:12PM
“http://tinyurl.com/cb8sgoz
can someone with some business experience please tell me if this is relevant.”
by Nicko12324
Monday, October 15 2012, 10:47PM
“Stokeandvale
Better than Stoke kicking them....LOL”
by Fizz72
Monday, October 15 2012, 4:04PM
“It would seem that these gentlemen only have eyes for making money; for both themselves and their investors; and we all know that you do not do that with a football club.
It's no use looking away and wishing these men love Port Vale and are football lovers because it is too late once the club is in their hands.Every fan needs to stand up and demand all concerns and worries are addressed now before anything is agreed behind closed doors.”
by VantaaVale
Monday, October 15 2012, 3:24PM
“A statement from Paul Wiles is now available online.
http://tinyurl.com/c2fpcqp”
by Fentoner
Monday, October 15 2012, 3:04PM
“" former finance director of the Caudwell Group" Nothing dodgy there then. Good luck valites, looks like youll need it again.”
by rambleson
Monday, October 15 2012, 2:16PM
“Would it be too much to ask for people not to start immediately attacking and "digging the dirt" on companies or individuals looking to invest in Vale.
If they have money to invest surely we should "lay off" and wait whilst they conduct due diligence and negotiate contracts to bring us OUT of Administration. I do sincerely hope that on this occasion the well rewarded Administrators of the Club also defer making rash statements but concentrate on ensuring that whatever deal is done can quickly and easily be signed off by the League to enable all of us to concentrate on the great job currently being on the field by management & Staff.
Whoever takes over in the boardroom can have no doubt that the organisation on the pitch is in good hands and doesn't require any tampering. Off the field, their expertise in Finance and Business Management will be tested but this club has proven that, given the opportunity, it can compete all the way up to Championship level if a competent board and motivated playing staff can work together - surely the best way for fans to facilitate this is to go to matches in increasing numbers and give our support to the Club as a whole”
by Mr_Jingles
Monday, October 15 2012, 2:15PM
“Here we go again - lets not hold our breath.”
by stokeandvale
Monday, October 15 2012, 12:11PM
“I BET DARLINGTON ARE KICKING THEMSELVES.......LOL”