Port Vale owners clarify Norman Smurthwaite’s comments about “investment” in Port Vale

Port Vale owners Carol and Kevin Shanahan have responded to comments from former owner Norman Smurthwaite in the Nottingham press.

Smurthwaite is interested in taking over Notts County but says he cannot take over a Football League club because he has a “substantial investment” in Port Vale FC.

The former Port Vale owner told the newspaper: “I am not sure if people are aware, but when I sold Port Vale, I have a substantial investment still within Port Vale for the next 36 months.”

It has emerged that new owners the Shanahans are paying for the freehold of the ground in installments over the next three years and it is this payment plan which Smurthwaite is referring.

Carol Shanahan told the Sentinel newspaper: “As long as we make those repayments, and there’s no reason we won’t because the money is already set aside, Norman has no claim on Vale Park whatsoever

“The league did say that while the payment plan was in place he could not have any interest in another league club.

“There is no significant investment at all.”

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