Port Vale: How the deal was done to save the Valiants

Friday, March 9: Port Vale are placed into administration at the High Court with debts of £2.69m following an application by major creditor, Stoke-on-Trent City Council.

Council leader Mohammed Pervez says: "The stark choice we faced was liquidation or administration. Liquidation would have meant the immediate end to Port Vale FC and 130 years of history."

Vale owe the council £1.859m dating back to a £2.25m loan deal signed in 2006.

Other creditors include HM Revenue & Customs (£189,965), who had issued a winding-up order on the club.

Gibraltar-based Continental Solutions mortgage lenders are owed £277,734.

The club are automatically docked 10 points, leaving them 12 points outside the League Two play-offs.

Three remaining board members – Mike Lloyd, Perry Deakin and Glenn Oliver – relinquish control to administrator, Begbies Traynor.

Wednesday, March 14: WaterWorld owner Mo Chaudry, Barton-under-Needwood-based firm International Piping Products and an unnamed bidder emerge as early candidates to buy the club.

To ease the financial burden, Vale agree a £50,000 deal with Barnsley for Lee Collins, although two offers for Marc Richards are turned down.

Thursday, March 15: Chief executive Perry Deakin is one of four people made redundant by the club's administrators.

Wednesday, April 4: Lancashire businessman Keith Ryder is named as the preferred choice to save Port Vale.

Ryder, who has worked in the financial services and property development industries, is chosen ahead of four other bidders after putting the highest offer on the table.

His deal means unsecured creditors, like HMRC, receiving 3p for each £1 they are owed. Football creditors, such as players, are to be paid in full.

Wednesday, April 18: Ryder holds an open meeting with supporters, pledging to give Micky Adams an improved budget to challenge for promotion.

"If we can get things structured right, sustainability for the club is achievable," he says.

Saturday, April 21: Adams quizzes his 20 out-of-contract players on who will be around for the new season.

Thursday, April 26: Creditors vote overwhelmingly to approve Ryder's takeover, leaving the businessman just needing Football League approval to complete the deal.

Begbies Traynor reveal they are holding an investigation into the club's affairs before it went into administration, including the issuing of 100,000 "nil-paid" shares, potentially worth £500,000.

Ryder's bid is revised to £1.3m after negotiations with the city council.

Friday, June 1: The Football League decline to ratify Ryder's takeover. The league board, who are meeting in Portugal, ask for more information on the businessman's bid.

Thursday, June 21: Adams says he has missed out on transfer targets because of Ryder's stalled deal. The manager has already seen Richards, Anthony Griffith and Sean Rigg quit the club.

Ryder denies his deal was on the verge of collapse.

"Deals of this magnitude will have the occasional stumbling block," he says.

Tuesday, July 31: Ryder is told to pay the money for his Port Vale takeover that day or risk losing out on the club altogether. He asks for another 24 hours, saying the delay is due to family health problems.

Administrator Bob Young meets two new potential buyers as he puts Vale back on the market.

Monday, August 6: Young tells a supporters' club meeting he has given the Football League a pledge Vale will fulfil their fixtures for the new season.

The future of 18 first team players remains in the balance as lawyers work on alternatives to contracts signed by Ryder. Only Dave Artell decides to leave.

Tuesday, October 16: Paul Wildes and his business associate Norman Smurthwaite are named as new preferred bidders to take over the club.

Tuesday, November 20: The Football League ratify the takeover of Port Vale by Wildes and Smurthwaite.