Port Vale Football Club have released a statement following talks with Newcastle-under-Lyme businessman Mo Chaudry over his takeover bid.
“Representatives of Port Vale Football Club have now met with Mr. Chaudry and his representatives. Those discussions were in confidence and any further comment from either party is inappropriate at this stage.
Mo Chaudry
The club’s board wishes to reiterate that it is committed to seeking further investment in the club.
It is enshrined within the club’s institution that no single shareholder should hold more than 24.9% of the club and this reflects the ethos of Valiant 2001, which gave rise to the club’s current structure. It is the board’s view that any new investment should adhere to Valiant 2001 principles.
Any credible and substantive investment proposals received by the club will be properly considered to evaluate their merits and appropriate action will be taken by the board in the light of such evaluation.
The team is making excellent progress this year and the support of the fans has been integral to this. The board is confident that the vast majority of supporters appreciate that stability and unity within the club is essential in the coming months, as the success of the season is defined.”
Port Vale’s next match with take place at Vale Park on Boxing Day against Lincoln City.
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