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.
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.
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"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.