Vale: deal still on course to be completed

Vale: deal still on course to be completed

Keith Ryder, administrators Begsbie Traynor and Stoke-on-Trent city council have moved to reassure Vale fans that Ryder’s takeover of the club remains on course to be completed by the end of the month.

On Thursday, the Sentinel quoted a Football League spokesman who claimed that Ryder and the club’s administrators had not yet responded to the League’s request for more information and that news story prompted demands from fans for the club to give the supporters on update on the takeover situation.

Rocky road to Ryder

9 March: Vale enter administration
4 April: Keith Ryder is named as the club’s preferred bidder
27 April: The club’s creditors approve Ryder’s bid
30 May: 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: Club administrators and Ryder insist the deal will be completed by the end of June

The club issued a statement from Ryder hours after the Sentinel story was published and Ryder told the Sentinel on Friday that: “We are working towards a completion date of June 30 and that hasn’t changed.

“Ideally, we would have always wanted the deal to be completed as early as possible, and I was hopeful it would have gone through this week.

“But when you are working with external partners, this isn’t always possible.

The Football League is awaiting a copy of the contract, which has been held up by details of a covenant agreement between the club and Stoke-on-Trent City Council, and by the solicitors acting for various parties.”

Peter Bates of Stoke-on-Trent city council added: “We can confirm we have had dialogue with Mr Ryder this week.

“The city council has done all that it can to ensure football will continue at Vale Park.

“From a council perspective, we see no reason why the timescale for completion of the takeover by 30 June won’t be achieved.”

Meanwhile, Gerald Krasner, of Vale administrators Bebgies Traynor, said: “Nothing much has changed on that score.

“It still looks as though the Football League will approve Mr Ryder’s takeover once he has the extra information they have requested.”

Leave a Reply

Your email address will not be published.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

fifty one + = fifty six

This site uses Akismet to reduce spam. Learn how your comment data is processed.