Port Vale: Three leading contenders in frame to buy club, says administrator Bob Young
THREE leading contenders have emerged in the race to buy Port Vale.
And Bob Young, of administrators Begbies Traynor, is confident a deal can be struck within a month.
-
Bob Young says there are leading three contenders in the race to buy administration hit Port Vale.
Seven parties remain interested in purchasing the club, although Young revealed he is now in advanced talks with a trio of potential owners.
"We are making significant progress," he said.
Panasonic Store Camera•20x Optical Zoom LEICA DC Lens from 24mm...
View details
What Digital camera Gold award winning DMCTZ40
SAVE £20 off our store price ONLY with this voucher
Plus you can also claim a SD card or spare battery
Choice of colours, free parking behind store
Terms: Print this voucher and hand in at Panasonic Store Hanley to save £20 off our store price ONLY £269.90
Contact: 01782 342609
Valid until: Friday, May 31 2013
"While we do have others in the wings, there are now three definite front-runners.
"I'm confident of a deal progressing within a month."
Young renewed the search for a buyer after declaring Keith Ryder's proposed £1.3m deal dead last month.
The Lancashire businessman failed to complete his takeover after being named preferred bidder in March.
"It's about making sure things are right," he added. "And it's about who has the money both to pay for the club and to take it forward.
"Things are progressing well."
Young informed club staff and players yesterday that money owed to them since February would be paid, alongside this month's wages, at the end of the week.
Most were only paid a quarter of their salary when the club hit financial trouble. Football League has now released money due to the club which has been withheld since it went into administration.
Young explained: "The Football League make regular payments to every club, but those are not made when a club is in administration.
"That money has been with kept back, but there is now enough in the pot to pay all of the football creditors.
"We have used £93,000 to pay the staff and players the money they were owed."
Young said he'd been delighted by Vale's start to the season and was pleased to see a crowd of nearly 7,000 for Saturday's top-of-the-table clash against Gillingham.
"It was great to see such a gate and long may it continue," he added.
Comments
by pizzaman17
Friday, September 28 2012, 5:24PM
“"Why don't all you portvale fan get togeter and buy the club, I know you guys would do a better job of it.
good luck guys from a stoke fan and a vale fan sometimes lol”
by Darren1810
Wednesday, September 26 2012, 2:56PM
“it,s all about opinion, yes they have kept the club going, however Youngs amateurish comments about not knowing Ryders solicitors have not endeared him to many Vale fans, lets hope these 3 bidders don,t have bobby no name solicitors !!!”
by Glennard
Wednesday, September 26 2012, 2:17PM
“Good to see signs of progress at last. Here's to a successful conclusion!
Overall I feel the administrators deserve credit for the professional way they have run the club through this difficult time. How culpable they are for the Ryder debacle is a matter of debate, but they chose what they genuinely thought was the best bid. Some of the comments Mr Young made about Mr Ryder did not seem to be helpful, or perhaps entirely professional. The wall of silence regarding the non-completion of the bid coupled with misinformation about Football League approval is a concern - but really all that is important now is that a suitable buyer is found so that we can look forward with hope instead of fear.”
by gpinspain
Wednesday, September 26 2012, 2:15PM
“what nonsense people write......they always think they can do the job better than the person doing the job.....bob young im sure is ignoring these idiots.....he is doing a very good job .....many different parties to be satisfied,......club, supporters,creditors,each and every potential buyer...just for starters,...and at the same time paying a multitude of bills, players, staff, expenses, his company etc etc...with 5 loaves and two fishes.....jesus apparently did it once on one day,...he is doing it every day,......and winning.......need i say more?”
by gpinspain
Wednesday, September 26 2012, 2:14PM
“what nonsense people write......they always think they can do the job better than the person doing the job.....bob young im sure is ignoring these idiots.....he is doing a very good job .....many different parties to be satisfied,......club, supporters,creditors,each and every potential buyer...just for starters,...and at the same time paying a multitude of bills, players, staff, expenses, his company etc etc...with 5 loaves and two fishes.....jesus apparently did it once on one day,...he is doing it every day,......and winning.......need i say more?”
by stokemaveric
Wednesday, September 26 2012, 12:09PM
“havent you vagrants heard all this before???...good start to the season tho!!!!!!!!”
by Darren1810
Wednesday, September 26 2012, 11:56AM
“will give MA scope to re-inforce the squad, can,t wait to see the next meeting when Young wheels out the latest prospective buyer,prepare to be met with hostility Mr Young as you have made pigs ear of this whole episode”
by zxcvbn2
Wednesday, September 26 2012, 10:03AM
“Sooner the better take the financial worry from the players shoulders then we will be able to consolidate the excellent performance of the team so far this season.”
by zxcvbn2
Wednesday, September 26 2012, 10:02AM
“Sooner the better then we will be able to consolidate the excellent performance of the team so far.”
by zxcvbn2
Wednesday, September 26 2012, 10:00AM
“Sooner the better then we can consolidate on the current excellent performances.”