Port Vale Football Club has confirmed that it has re-opened discussions with businessman Mo Chaundry over potential investment after rejecting his initial approach.
The Npower League One’s board had already held talks with Chaundry but originally concluded that the talks would ‘not be pursued at any stage in the future’ over issues with how much of the club Chaundry would purchase.
But it now appears that the Valiants are prepared to try and broker a deal with Chaundry. A statement on the club’s site said: “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 no 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.”
PDC Darts World Champion and Valiants supporter Phil Taylor also declared his interest in investing in the club and issued his support to Chaundry.
Taylor said: "If the right people came in, I would seriously consider investing and also coming on to the board if the club wanted me to. Mo is a very good businessman. He's a self-made millionaire and would make every effort to help the club move forward."