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Page last updated at 07:47 GMT, Monday, 2 August 2010 08:47 UK

Potential investor Mike Newton outlines Port Vale aims

Port Vale

Potential investor Mike Newton has set out his aims for Port Vale after meeting with supporters for the first time in Burslem on Sunday evening.

Newton, a former board member at Oldham Athletic, is looking to invest around £400,000 in the League Two club.

He told BBC Radio Stoke: "I want Port Vale to win football matches and be an object of pride for its supporters.

"Everything we do needs to be devoted to providing the maximum resources to the first team. It's that simple."

I'll put cash in and that will go some way towards alleviating the losses, but we've got to be better in all departments

Mike Newton

Newton continued: "What we have to do is to improve the commercial activities of the club, for which I have clear plans, and we have to get the non-football costs under control.

"We have to run the club overall in a professional manner, to make us the benchmark for how a Football League club should be run.

"Last year's losses, which I think will be in the region of £500,000, are unacceptable. I don't think there's any excuse for making a loss.

"I'll put cash in and that will go some way towards alleviating the losses, but we've got to be better in all departments.

"If we're losing money year in and year out, we can't set the club up in such a way to provide [Port Vale manager] Micky Adams with the maximum resources."

Newton, a New York-based businessman who was born in Stoke-on-Trent, initially made his offer of investment in June and is still in negotiations with the Vale board.

If the offer is accepted, it could lead to Newton becoming the new chairman at Vale Park.

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