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Port Vale administrators announce preferred bidder

Administrators at Port Vale Football Club today named Lancashire-based businessman Keith Ryder as their preferred bidder.

The club has been in serious financial trouble and entered administration last month.

Administrators said Mr Ryder, who has a background in financial services and property development, "has no intention of bullding houses" on the current site.

Mr Ryder, who was not at the press conference today, has promised to meet supporters. He will be holding a Fans' Forum on April 18.

Club administrator Bob Young said: "Financial services, property development. He [Keith Ryder] has asked me to make absolutely clear he has no intention of building houses or anything other than a sports stadium here.

"He will sign an anti-embarrassment clause with the council to commit to keeping this as a football site."