The Board of The Football League has agreed the transfer Port Vale's share in The Football League to PVFC Limited a company owned by Paul Wildes and Norman Smurthwaite. The Board's decision brings to an end Port Vale's period in administration.
Chairman of The Football League Greg Clarke said "I would like to welcome Paul Wildes and Norman Smurthwaite to The Football League and thank them for their efforts in helping to rescue Port Vale Football Club.
"The Football League remains committed to improving the financial health of professional football and as with any club which has been through a period of administration, will continue to monitor the situation at Port Vale over the coming years to help ensure the club remains on an even financial footing.
"I would like to pay tribute to the players, their manager Micky Adams and the staff of Port Vale who have continued to go about their business admirably throughout this difficult period. I would also like to thank the Port Vale supporters for the patience and understanding during the uncertainty of the past few months. Hopefully this will be the start of an exciting future for Port Vale Football Club, its fans and the wider community the club serves."
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