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Page last updated at 07:03 GMT, Tuesday, 22 June 2010 08:03 UK

Port Vale receive 'genuine' investment approach

Port Vale

Port Vale vice-chairman Peter Jackson has said the offer of investment from New York-based businessman Mike Newton is being taken seriously.

Newton was born in Stoke-on-Trent and has expressed an interest in buying shares in the League Two club.

Jackson told BBC Radio Stoke: "We get lots of approaches and I'm as sure as I can be that it's a genuine approach.

"He's a football nut, he's got some money, and there's an attraction in investing in English football."

Vale have been in continuous discussions with property developers Harlequin about their proposal to become the club's majority shareholder for over a year, and Jackson said any possible investment from Newton would not affect negotiations with Harlequin.

"He [Newton] is due to come over and visit in July and we'll carry on discussing with him," Jackson added.

"It is alongside the Harlequin investment, it's not seen as something instead of them. We're talking to them about it as well.

"If you're negotiating any sort of deal, it's a lot more complicated than buying a can of beans from a supermarket shelf. It has to be right for both parties."

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