Port Vale takeover bid making progress, says Bill Bratt
A group of Port Vale fans have protested at recent home matches
Port Vale chairman Bill Bratt has said initial talks with prospective new owner Mo Chaudry have gone well.
Local businessman Chaudry is planning to buy the League Two club and met with the Vale board on 14 February.
But speaking to BBC Radio Stoke before the 3-1 defeat at home to Stevenage on Tuesday, Bratt warned supporters not to expect a quick resolution.
"To sell a football club isn't a week's work or a month's work, it's three months' work," said the Vale chairman.
"The talks went OK, but there are a lot of questions to be asked about how things are going to go forward.
"We are continuing dialogue and we will continue that until a result is achieved.
"He [Chaudry] has come back to us with a letter outlining his proposals, we're looking at that and we've already gone back to his solicitors to ask for more clarification."
A large group of Vale supporters have protested against the board after recent home matches and Bratt admitted he has received threats from supporters, although it has not prevented him from attending games at Vale Park.
"Originally the security advisors to the club and the police said it would be better if I stayed away to calm things down a bit," said Bratt. "I wasn't happy doing that because I'm a Vale supporter.
"I've had quite a few serious threats and a lot of minor ones, but you've got to take no notice of it and get on with your job.
"We feel the way things are, our situation is a little bit intolerable so we need to get new blood into the club, but we need to do it civilly and not the way it's being done at the present time."
The Vale board rejected a £500,000 takeover bid from New York-based businessman Mike Newton in August and also held talks with potential investors from the United States in November.
Chaudry, who was unsuccessful in his efforts to take control of Vale in 2003, declared his interest in launching another takeover bid in December.
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