Port Vale have been given seven days to respond to an offer of investment from a US based businessman. Mike Newton, a hedge fund trader from New York, has offered to invest £400,000 into Vale in return for a place on the clubs board of directors. Despite living in the US Newton was born in Staffordshire and spent last season as a director at Oldham last year.
Speaking to Thewonderofyou.co.uk Newton said:
"I've asked Port Vale to give me a decision on whether to pursue my investment by next Friday.
"We covered all aspects of the future of the club and the discussions were intense.
"I very much hope Port Vale will accept my offer, which I think is overwhelmingly in the best short and long-term interests of the club.
"Regardless of the outcome of these negotiations, I have developed a tremendous respect for Port Vale and its fans and traditions.
"With this in mind, I will be coming back to the UK in order to attend the opening game of the season at Bury on August 7, whether it's as part of an official delegation or whether it's me and my family going with the fans.
"I have also booked the Jubilee Hall in Stoke for a public meeting on Thursday, August 12, at which I will present my vision for Port Vale and be open to questions from fans.
"If it works out with the board, then I will explain my vision to the fans. And if not, then the fans are entitled to an explanation."
Vale are in need of funding at the moment as they prepare to release details of major losses for the second season in a row.
No comments:
Post a Comment