Npower League Two Port Vale Football Club has secured a £1.6m deal with an American company which includes new training facilities, annual sponsorship of a pre-season tour and direct investment into the club.
According to The Sentinel, Ameriturf Global Sports (AGS) would purchase 24.9% of the club’s share and invest £400,000 through the purchase of new shares and a further £100,000 as an interest free loan.
In addition AGS will pump money into new facilities, around £600,000, and back pre-season tours to America and the Caribbean.
Whilst pleased with the deal, Valiants vice chairman Bill Bratt stressed it was not a takeover.
"The board has been working night and day for six months to finalise this agreement and the result is great news for Port Vale and its fans," Bratt said.
"Our club certainly needs extra funding, better facilities and long-term sponsorship for our pre-season tours.
"But our club also needs to retain the corporate structure and safeguards which ensure that no individual may ever again use our club for their personal gain.
"This is not a takeover. Like the current board, AGS believes in the community basis of football clubs and they want the majority ownership of Port Vale to remain in the hands of the club's supporters."