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So near and yet so far for League 2 side Port Vale

 
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According to Staffordshire Today, Keith Ryder's bid to take control of Port Vale has been held up by an 11th-hour hitch.
The Lancashire businessman has resolved all of the other issues which have caused a frustrating delay in his £1.3m takeover and according to local sources he remains on the brink of completing a deal.

But administrator Bob Young says there is one last sticking point which needs to be resolved before the Football League will give the green light.

"Keith has now consented to all of the terms set down by the league, except one," said Young on Thursday

"Both parties have been exchanging emails since the second half of last week.

"Negotiations are very much ongoing and there is some give and take going on from both sides of the table."

Young refused to reveal the precise nature of the outstanding matter, but added: "I think it's relatively solvable, but there is definitely an issue to be overcome.

"It seems quite a Draconian provision by the Football League, so it's difficult for Keith to just say 'yes' to it like that.

"Both sides are offering a compromise and I'm sure an agreement will be reached pretty soon."

Young revealed on Friday that the league had approved the deal subject to changes in Ryder's legal paperwork. It is believed the final issue is the one of those conditions.

Young also re-iterated that Football League approval for new owners had generally become much more difficult to come by.

"They have tightened up their criteria as a result of problems at other clubs," he added.

"They have made conditions more onerous, but Keith has been happy to accept all of the other clauses they have insisted on."

Meanwhile Vale continue to plan for next season with Micky Adams due to leave at the weekend, with the team, for a pre-season mini tour and training camp in Ireland,

UH

 

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