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Page last updated at 08:05 GMT, Friday, 13 August 2010 09:05 UK

Mike Newton increase Port Vale takeover offer

Newton calls for quick decision

New York businessman Mike Newton has upped his bid to take control at League Two club Port Vale to £500,000.

Newton also told a supporters meeting on Thursday night that he had declined the offer to join the current board.

He told BBC Radio Stoke: "I am backing myself to be the man to turn the club's fortunes around, and I have the money ready now to invest."

Newton would be the new chairman and former Stoke City player Graham Shaw will become the chief executive.

The supporters meeting was attended at the Jubilee Hall in Stoke and was attended by around 200 Vale fans.

Stoke-born Newton added: " I have a three-year plan where I want the club to break even and I will declare the minutes of every board meeting to the fans so that can see what is going on at their club.

"I think there is to much secrecy at the Vale and supporters should be able to look at all things that are going on.

"I won't make any money out of this but I want to make Port Vale a successful club hopefully one day that will be in the Championship."

The Vale are looking for investment and are in on going talks with club sponsors Harlequin Property and another un-named potential investor as they are set to post £500,000 losses on last season.

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see also
Vale chairman unhappy with Newton
03 Aug 10 |  Port Vale
Newton outlines vision for Vale
02 Aug 10 |  Port Vale

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