Port Vale: Paul Wildes' takeover bid completed ahead of Bristol Rovers clash
THE takeover of Port Vale by Alchemy Investment Group has been officially completed today.
Confirmation of the deal comes after administrators Begbies Traynor and Football League officials approved the £1.25m bid by Paul Wildes and Norman Smurthwaite.
The Valiants will now come out of administration, eight months after entering in March of this year.
In a statement on the club's website Paul Wildes, who was named as the preferred bidder last month, said: "I would like to thank the Port Vale supporters, once again, for their ongoing patience and support.
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"It has been a long process but we are delighted to have finally taken over the club and look forward to a long and successful association.
“As I have previously stated, our intention is to develop the club both on and off the field.
"On the pitch we’re continuing to support Micky and the squad as they push for promotion.
"Off the pitch we have made some key appointments to ensure the immediate and ongoing success of the club."
Paul Wildes will become club chairman, Norman Smurthwaite has been named as chief executive, and Mike Aspinall will take up the role of operations director.
Financial director Robin Anderson will take responsibility for finance and IT departments and the club is also planning to appoint a commercial director.
The Valiants take on Bristol Rovers at Vale Park tonight.