Administrators 'sceptical' about Ryder promises

Administrators 'sceptical' about Ryder promises

Administrator Bob Young has told the Sentinel that it is time for potential owner Keith Ryder to “put up or shut up” and that “I am treating what he [Ryder] says with a fair bit of scepticism.” Young’s remarks will only heighten fans’ fears that the Ryder deal is on the brink of collapse.

Young has reportedly given Ryder a 24 hour deadline to produce the funding to complete the deal. Young, part of Begsbie Traynor, the firm administering Port Vale FC told the Sentinel: “We have reached the stage now where it’s put up or shut up time. All we are waiting for is Keith to pay the money and, until he does, we can’t complete the takeover.

To be fair, he has left some of the money with his lawyers and has told us he will send the rest today. But to be honest, I have heard that before and I have to say I am treating what he says with a fair bit of scepticism.

“So if it’s not done today, we will go to Plan B and grant a period of exclusivity to one of the other interested parties.

“I still believe he wants to do the deal and I have seen proof of funding. I still think we can get there, but it is very frustrating that he hasn’t produced the funds required so far and he is testing my patience.”

Young told the newspaper that Ryder has paid 50% of the club payroll (the other 50% is paid by the PFA) and also contributed to the club’s Irish tour.

Supporters Club chairman Pete Williams added: “I’m as frustrated as everyone else that it hasn’t happened yet and I can only hope that it happens today.

“It shouldn’t have come to this, we should have had it all signed and sealed by now.

“We’ve been speaking to Mr Ryder all along and he still seems to be plausible. But he has said in the past we were just waiting for the Football League and he didn’t return my calls yesterday.

“He’s had enough time to get all this sorted so I’m now starting to worry that it won’t happen at all.

“There are only two weeks to the start of the season now, so enough is enough.

“I’m desperately hoping he produces the money today and that he can complete the deal. But if he doesn’t then I agree it’s time for Plan B.”

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