Port Vale FC have confirmed that Paul Wildes’ Alchemy Investment Group is the club’s preferred bidder.
According to club statements:
- Alchemy Investment Group has preferred bidder status
- Sale price is £1.25m
- Money will be paid on completion with no deferred element
- Heads of Terms were signed on Friday
- Wildes would like to complete by the end of October
- Alchemy have paid £100,000 to secure exclusivity
- Short-term player contracts will now revert to their original terms
Paul Wildes said: “I have been very impressed by what has been happening on the field. I am even more impressed by the potential of the stadium and the land and building surrounding it and the commercial activities that could be brought to Vale Park, which is one of the reasons why I am very interested.
“We have got come synergies with some of the businesses that we currently own that will help develop the venue into more of a seven days a week venue, instead of a three hours every other Saturday venue.
“We are coming to the club with ideas on how we can develop the off-field activities of the club to try and make the commercial venture a successful one over a number of years.
“I think it is important for me to say now is that the decisions we will be making today and over the coming years will be ones for the long term interest of the football club.
“Short term cash flow decisions don’t need to be made here. What we will be looking to do is make decisions for the long term benefit of the club.”