Businessman Mike Newton has announced his departure from the Oldham Athletic boardroom, but the 42 year-old says the move is not due to any interest in taking out Port Vale FC.
Newton’s bid for Port Vale in the summer of 2010 was rejected by a majority of board members and the US-based businessman subsequently invested in Stockport County instead.
Newton then joined Oldham Athletic who claim that his resignation from the board is logistical. Chairman Simon Corney told the Oldham Chronicle that: “Due to the day-to-day commitments he has in New York, he hasn’t been able to get across so often. But when he has been here, he has provided useful insight.
With Vale still in administration following delays to Keith Ryder’s takeover, Newton’s name has been linked to the club due to his previous interest in the Valiants but Newton has put paid to the rumours.
He told the Chronicle: “I have enjoyed my time at Oldham and wish the fans well. I have put in a meaningful amount of money and will not be taking anything out. It will be written off as a donation.
“Contrary to what some may think, I am not looking to buy Port Vale FC, though I want to remain in football in some capacity.”