Port Vale back to square one as preferred bidder misses deadline

PORT Vale Football Club administrators from Begbies Traynor are in talks with new prospective buyers after preferred bidder Keith Ryder failed to complete the deal by an agreed deadline.

Lancashire property developer Ryder says he remains committed to buying the club but BegbiesTraynor’s Bob Young said they are looking elsewhere.

Ryder was named preferred by the administrators in April – a month after the club entered administration. He was quick to reassure fans that he is not planning to build houses on the site of its Vale Park ground and said he wanted to “bring the good times back to Burslem”.

Ryder told administrators he was looking acquire the club through a new company – Port Vale FC Limited.

Young said this week that he had been pressing Ryder to complete for ten days or so but that it keeps being put off.

Vale, docked ten points after entering administration, were also under a transfer embargo until a company voluntary arrangement agreement allowed them to start signing players in July. 

Manager Micky Adams has since been allowed to sign six players.