Port Vale owner Norman Smurthwaite has told the Sentinel that he would invest up to £300,000 into the transfer budget.
The owner’s move appears to be a bid to reassure manager Micky Adams who has sought reassurances over the playing budget before he commits to the club.
Smurthwaite’s move appears to be designed to reassure the manager that the required transfer budget will be available regardless of season ticket sales.
25 per cent of whatever we raise, I will put in as investment. There are no pre-conditions to that…
The club have sold 1,750 tickets so far and Smurthwaite has pledged to match 25% of the total amount sold with his own money. He claims it will take his total spending on the club to £2m.
Fans will be hopeful that the owner’s move will persuade Adams to stay and any announcement that the manager has agreed a new contract will almost certainly boost season ticket sales even further.
Smurthwaite told the newspaper: “I have given the manager all the information and been open and honest with him.
“The manager has received his contract, is aware of what the budget is and is deliberating. There will be further discussions.
“If we want to potentially be in the top six, I think we have to have a minimum of 5,000 season ticket-holders.”
“So, 25 per cent of whatever we raise, I will put in as investment. There are no pre-conditions to that.
“That is allowed in the (Football League) rules because it is investment rather than loans.” *
* Indeed this “investment option” is how clubs like Brentford manage to have such high wage bills (with their multi-millionaire owner adding funds every summer) despite having average gates lower than the Valiants.