Norman Smurthwaite: I’ll only sell Port Vale for a single payment

In response to the news that Synectics Solutions have had a bid of £3.5m turned down, Port Vale owner Norman Smurthwaite has issued a statement.

In it he says that he will only sell the football club for a “single payment.”

When the owner sells the club it’ll be for a single payment consideration…

The Sentinel newspaper says that the Synectics offer was for £500,000 immediately and a further £3m over five years. Smurthwaite would also keep a £400,000 instalment of the Jordan Hugill sell-on clause believed to be due next year.

A club statement on the official Port Vale website states:

The owner can confirm that Synectics Solutions have made three separate offers in the last three weeks.

Any offer that is made to the owner should not be conditional on the owner providing a mortgage to the person making the offer.

When the owner bought the club it was for a single payment consideration, and when the owner sells the club it’ll be for a single payment consideration.

The owner will not consider any further offers made by any parties where it’s conditional for the owner to provide a mortgage to that person.