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Last Updated: Tuesday, 30 December, 2003, 09:29 GMT
Consortium saves Port Vale
Vale Park
Port Vale's immediate future has been secured following a major investment from a consortium led by Peter Jackson.

The consortium will purchase 30,000 shares at 5 a share to provide the club with an immediate injection of 150,000 to stabilise finances.

Jackson, a life-long Valiants fan, had to overcome a rival bid for Vale from Italian football agent Gianni Paladini.

"The investment ensures the future of the club is safe," chairman Bill Bratt told BBC Radio Stoke.

We believe the club has great potential
Consortium leader Peter Jackson
He added: "I believe the best decision has been made for the club and its supporters.

"We now have a solid foundation on which to build for the future and achieve our aim in progressing Port Vale both on and off the field."

The consortium - which will have a minority shareholding - will also take up an option to buy the remaining shares and have two seats on the board.

Jackson said: "We believe the club has great potential and we are confident we can introduce the right business management to enable the club to realise that potential."

The club is currently the subject of a Football League transfer embargo because of its financial difficulties.

Vale set for takeover talks
15 Dec 03  |  Port Vale

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