Source: PA
Vale confirm Chaudry talks
Port Vale's board of directors have confirmed they held talks with interested investor Mo Chaudry on Monday while also stressing their belief that no single party should hold more than a 24.9% stake in the club.
Vale's hierarchy came in for criticism last week at the club's Annual General Meeting having taken no hesitation to dismiss Chaudry's £3million plan to take control of the League Two outfit. But chairman Bill Bratt and co performed a U-turn over the weekend and have now listened to what the Staffordshire businessman has to say.
A full club statement on the Valiants' official website read: "Representatives of Port Vale Football Club have now met with Mr Chaudry and his representatives. Those discussions were in confidence and any further comment from either party is inappropriate at this stage.
"The club's board wishes to reiterate that it is committed to seeking further investment into the club. It is enshrined within the club's constitution that no single shareholder should hold more than 24.9% of the club and this reflects the ethos of Valiant 2001, which gave rise to the club's current structure. It is the board's view that any new investment should adhere to Valiant 2001 principles.
"Any creditable and substantive investment proposals received by the club will be properly considered to evaluate their merits and appropriate action will be taken by the board in the light of such evaluation.
"The team is making excellent progress this year and the support of the fans has been integral to this. The board is confident the vast majority of supporters appreciate that stability and unity throughout the club is essential in the coming months as the success of the season is defined."
