Port Vale: Valiants close to new era as Football League officials prepare to meet takeover duo
PAUL Wildes and Norman Smurthwaite will meet Football League officials tomorrow as they edge closer to finalising their deal to take over Port Vale.
The business partners will be questioned on their blueprint for the club as part of the governing body's increasingly-stringent Fit and Proper Persons Test.
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Port Vale's new preferred bidder Paul Wildes at Vale Park.
Administrator Bob Young is confident the pair will have all the answers and says deals are normally signed, sealed and delivered within 10 days of such meetings.
He said: "The Football League want to meet with the purchasers, as they do with all purchasers, and they have all the information we think they need.
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"The officials will then report to the Football League board and I am not aware of any issues which could hold up completion, when contracts and money are exchanged.
"It is proving to be a much more simple deal than with (former prospective owner) Keith Ryder so we are hopeful it will be ready to complete.
"It all takes longer than we want, but the Football League are more careful about approving a club's new owners than they perhaps have been in the past and I can understand why."
Young was meeting with lawyers yesterday after Wildes and Smurthwaite returned their £1.25m sale contract for minor amendments.
He said: "Their lawyers have added one or two comments, but there are no major sticking points.
"I've been talking to Paul and Norman this week and I'm pretty comfortable that the deal will progress smoothly."
Young's firm Begbies Traynor remain in control behind the scenes at Vale Park for the moment.
But venture capitalist Wildes and retired finance expert Smurthwaite have been frequent visitors to Vale Park to size up how they will run the operation.
The duo were unveiled as the new preferred bidders for the club mid-way through last month.
Young said: "They are getting on very well and have been down to the ground on a regular basis lining things up for when they are in charge.
"The club has been in administration for too long, but now the end is in sight."
In the run-up to taking command, Wildes and Smurthwaite have been keen to gauge fans' opinions on how the match-day experience could be improved.
Gary Benson, of the Port Vale Supporters' Club, is now busy sorting hundreds of suggestions into different categories ready to hand over to the prospective new owners.
He said: "We have had lots of texts, emails, letters and forum posts discussing everything from catering to the team, stands and ticket prices.
"There might be a couple of daft ideas, but there are loads of genuinely thoughtful suggestions and supporters have left no stone unturned.
"Paul and Norman seem approachable and have already had staff at the club in preparation for when their deal is completed, which is certainly more than Keith Ryder ever did."
Comments
by Glennard
Friday, November 02 2012, 10:08PM
“Great to see that things seem to be moving - I was getting a little worried that things had gone quiet. I am not entirely comfortable with those two words 'venture capitalist' but we must be optimistic.
Generally very pleased at the professional way Mr Young has handled matters (I know his company is being well rewarded - but that is the nature of the beast). However, we again have comments about Mr Ryder, which I am not sure are appropriate coming from the administrator - whatever we may think of the former preferred bidder.”
by algy7
Thursday, November 01 2012, 8:13PM
“It seems that the end of the nightmare is in sight. Hopefully in a few more days, the (possibly), worst period in the Vale's history will be behind us and, with the leadership of Mr. Wildes, and Mr. Smurthwaite, we can ALL look forward to a bright future.
In many ways you can't blame the Football League for being extra careful when looking into the Vales case. This is the clubs second term in administration, and the F.L. need to be doubly sure of the calibre of the people taking over the club, especially in the light of the failed bid earlier in the year, and the calibre of some of the people who have run the club in the past.
So let us do the cheering AFTER the decision is made, not before.
On another topic, does anyone have any information as to how the Administrators / police investigations are progressing in the light of the unpaid share scandal ?.
Let us hope that the news of the clubs' emergeance from administration can come before the unveiling of Roy Sproson's statue, so we can have a double celebration. KEEP THE FAITH.”
by johnwhite18
Thursday, November 01 2012, 7:39PM
“All the club needs now is the fans to fill the stands very sad site on sky tv to see all them empty seats support Mr Wildes now”
by Dave_Eccy
Thursday, November 01 2012, 12:42PM
“Keith Ryder from a distance kept the club ticking by paying some wages and funds towards the pre season, which proved to be vital preparation, these guys seem more ready to get amongst it and sort out the issues, whilst being approachable. I was gutted when the previous deal fell through, and we were back to square one, but now it seems a blessing in disguise.
At least it's not holiday time but during the playing season, so I'd hope the Football League personnel will be around to meet them.”
by Vale_For_Real
Thursday, November 01 2012, 10:30AM
“When is the next Football League board meeting due?
If I remember from the Mr Ryder "take over" everything went on hold for weeks while the adminiistrators were waiting for the next meeting to arrive.”