Robbie Williams buys shares in Port Vale 03/2006

Los Angeles based rock star Robbie Williams has given a financial boost to his home town club, Port Vale. He has bought the remaining shares in the Burslem club that had been available since a fans’ group took over in May 2003. These shares were worth about £260,000. The club have courted Williams, who is worth an estimated £85 million, since they fell into administration in December 2002 with debts of more than £2 million. With the club losing about half a million pounds a month, there were fears that it might have to merge with its Potteries rival, Stoke City. Valiant 2001, a supporter-based consortium, took over the club but money remained tight. With the investment from Williams the directors will now be able to raise more moeny on the back of a club now valued at £4.5 million compared with £1.6 million when they took over. In the past the club had ambitions to turn its extensive ground into the ‘Wembley of the North’. However, the club has never been higher than what is now the Championship. In many ways it is a prototypical example of a small northern club in an economically depressed area with what is arguably a bigger local team and some people going to Manchester for their football. Merger would be the economically rational solution, but would overlook the strong sense of identity fans have with their club.