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Last Updated:  Wednesday, 19 February, 2003, 12:37 GMT
Fans' group win control of Vale
Vale Park
Valiant 2001 will take control of Vale Park
Port Vale supporters' group Valiant 2001 has been confirmed as the preferred choice to take control of the cash strapped football club.

Administrators Poppleton and Appleby made the announcement at a press conference on Wednesday morning.

The Icelandic company which owns Port Vale's local rivals, Stoke City, had offered more money for the club but it is though that bid fell foul of Football League rules designed to prevent owners having interests in more than one club.

Valiant 2001 now has to complete legal work and satisfy Port Vale's creditors of its ability to meet the club's debts before it can formally take over.

It has been tense but we have stuck at it and I think one of the things we can claim is that we've got stick ability and we hope to transfer that along with our business expertise into the ongoing running of the club
Peter Walker, Valiant 2001
Port Vale went into administration last year with debts estimated to exceed 2m.

The Inland Revenue is owed 600,000 and the former Vale chairman Bill Bell, 500,000.

Peter Walker, from Valiant 2001, said the group's hard work had paid off.

He told BBC Radio Stoke: "We are all committed Vale supporters.

"Every single member of Valiant 2001 can justifiably claim that. I myself have been a supporter for about 54 years."

He added: "It has been tense but we have stuck at it and I think one of the things we can claim is that we've got stick ability and we hope to transfer that along with our business expertise into the ongoing running of the club."

Other groups who were interested in buying Port Vale included the owner of Waterworld, Mo Chaudry, Summerbank Management, based in Tunstall and the property developer Steve Ball.

Port Vale went into administration last year with debts estimated to exceed 2m.





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SEE ALSO:
Vale bid to be accepted
11 Feb 03 |  England
Vale supporters in protest march
08 Feb 03 |  England


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