Port Vale: Valiants poised to reveal who wants to buy club
THE identity of Port Vale's potential new owner is due to be revealed next week.
It is understood a press conference will be held at Vale Park next Tuesday when the club administrators will name their new preferred bidder.
They have been seeking a buyer for the club since Lancashire businessman Keith Ryder failed to complete his £1.3m deal to take over at Vale Park in the summer.
Just who the new preferred bidder is remains unclear, and neither Bob Young nor Steve Currie, of administrators Begbies Traynor, were available for comment yesterday.
They identified up to seven interested parties in the club in the wake of Ryder's mysterious failure to complete his deal, but revealed two weeks ago that three had emerged as "serious contenders". They said at that stage they expected to name a new preferred bidder by the end of October.
Port Vale Supporters' Club chairman Pete Williams said yesterday he has been invited to a meeting at Vale Park on Tuesday, but had been given few other details.
"I was asked by the administrators to go to a meeting at the club prior to a press conference, but they would only say they wanted to discuss the takeover further.
"Surely it can only be good news though."
Once a preferred bidder has been named, they will have to seek Football League approval before finalising the takeover.
"How long that takes depends on who the preferred bidder is and what they propose to do with Port Vale," said Football League spokesman Peter Hannon.
"Even if someone wins preferred bidder status with the administrator, it doesn't necessarily mean they will tick all the boxes required to win Football League approval, as we saw last time with Keith Ryder. It could be done fairly quickly if everything is in place, or it could drag on."