Lancashire businessman Keith Ryder has been named as the surprise preferred choice to take Port Vale out of administration.
Ryder, who has worked in the financial services and property development industries, was chosen ahead of four other bidders, including local businessman Mo Chaudry who has been trying to buy the club for some time. In many ways he was the preferred choice of fans, but supporters’ groups have pledged that they will work with the new owner.
Lancashire businessman Keith Ryder has been named as the surprise preferred choice to take Port Vale out of administration.
Ryder, who has worked in the financial services and property development industries, was chosen ahead of four other bidders, including local businessman Mo Chaudry who has been trying to buy the club for some time. In many ways he was the preferred choice of fans, but supporters’ groups have pledged that they will work with the new owner.
Ryder’s was the highest offer on the table, administrators Begbies Traynor revealed at yesterday’s Vale Park press conference. He initially expressed an interest in investing at the turn of the year, but eventually decided against the move. He will now need to satsify the Football League’s ‘fit and proper persons’ test, although there is no reason to suppose that this should be difficult.
At the time of an economic downturn which has hit the Potteries hard, it is interesting that there have been four credible bidders for a League 2 club, although admittedly the accumulated problems are not as great as they were at Plymouth. It suggests that the market for football clubs is still reasonably buoyant and also confirms that it is a market in which normal rational calculations do not apply.