Smurthwaite “in dialogue” with four potential buyers of the club

Port Vale owner Norman Smurthwaite has told the Sentinel that he is in talks with four potential buyers of the club.

Smurthwaite put the Valiants up for in December but apart from a club statement there has been little news on any developments since that time.

He has now told the Sentinel: “There are four separate parties in dialogue with me regarding buying the football club.”

The club’s latest accounts, for the 12 months up to June 30, 2015, showed that £2.5m was owed to Smurthwaite as a director’s loan. He is looking to recoup that amount plus the £1.2m he paid for the club.

The Vale owner has also said he is willing to sell the football part of the business while remaining the owner of the Vale Park stadium. It is unclear which of the interested parties would want to do this or whether they are looking to purchase both the football club and the stadium.

Smurthwaite has indicated that if he is unable to sell the club this season, he will appoint a CEO to run the club next season.

| No ratings yet