Ryder awaits Football League approval

Ryder awaits Football League approval

The Sentinel newspaper reports that Keith Ryder has now signed contracts and agreements with the Football League regarding his takeover of Port Vale FC and that all that is required for the deal to be completed is for the Football League to sign the documents.

“We have now signed all of the contracts in addition to the membership agreement from the Football League,” Ryder told the newspaper.

“This document still needs to be signed by the Football League itself, but I am hopeful we can bring this matter to a swift resolution.”

Ryder’s takeover of the club has been long and protracted. It was originally expected to be agreed at the end of June, but according to administrator Bob Young, tighter regulation following the collapse of Glasgow Rangers have caused this delay.

The long road to Ryder
9 March: Port Vale enter administration for the second time in their history
4 April: Keith Ryder is named as the club’s preferred bidder
27 April: The club’s creditors approve Ryder’s bid to takeover the club
30 May: The Football League ask for more documents on Ryder’s business plan before the deal can be formalised
21 June: The Football League claim they are still waiting for a response to their 30th May request
22 June: Administrators and Ryder say the deal will be completed by end of June
26 June: Administrator Bob Young says agreement has been reached with the council and documents submitted to the Football League
24 July: Ryder says he has signed contracts and is now just waiting for signatures from the Football League to complete the deal

 

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