Chaudry ‘sets record straight’

Chaudry ‘sets record straight’

Local businessman Mo Chaudry has defended himself against claims of making a “frivilous” bid to take control of Port Vale FC.

Talking to the Sentinel, Chaudry says he made a £750,000 offer for the club, including a£200,000 offer to Stoke-on-Trent City Council, which would have given them ownership of Vale Park, in exchange for a 150-year lease of at peppercorn rent.

Chaudry says this is close to Ryder’s bid which offers creditors £600,000 as well as £800,000 to the council in return for ownership and freehold of Vale Park.

Chaudry told the newspaper: “My issue isn’t about Mr Ryder, I just want to put the record straight.

“My offer wasn’t a frivolous bid, it was very considered and well thought out.

“In my bid there were no instalments or ifs and buts, it was a firm deal and was a cash bid.

“Also, I was offering the council and the rate-payer an opportunity where they could keep the value of the asset on their books, still retain ownership of it forever and not take a loss.

“The administrator has said Vale Park is valued at around £1m, so with that in mind, I could have presented my offer as being worth £1.75m rather than £750,000.”

Chaudry added that he would still be interested in investing in the club: “If Mr Ryder, or anyone else does become the new owner, then I would be happy to have dialogue.

“If we got on and our interests were aligned then I would be very happy to talk to them about investment and/or sponsorship.”

Leave a Reply

Your email address will not be published. Required fields are marked *

+ eighty = eighty five