Port Vale Football Club's preferred bidder Keith Ryder has said he is looking forward to completing a deal for the club after creditors approved the company voluntary agreement proposed by administrators Begbies-Traynor.
"I am very pleased that creditors and members have given the proposal the green light and thank everyone who voted in favour of the CVA," said Mr Ryder.
"This was the biggest hurdle in the purchase of the club and I hope that we can complete all of the necessary paperwork at the earliest opportunity to complete the deal as swiftly as possible.”
At the creditors meeting held on April 26 both the administrators' proposal and the CVA were approved by the requisite majority. The proposals were approved by more than 90 per cent of creditors and the CVA by 87 per cent.
It is now hoped the transfer of football league shares can be completed before the end of June.
Mr Ryder added: "I have had more positive meetings with key personnel at the club this week, including the manager, and look forward to when the work can begin in earnest.
“This is a fresh start for Port Vale and I am excited about the coming season, as well as developing the right infrastructure off the pitch."
Mr Ryder also revealed the debt to Stoke on Trent City Council was set to be paid in full.
"I've had very positive discussions with Stoke on Trent City Council and I thank them for voting in favour of the CVA,” he said.
“This is by no means the end of our relationship and I look forward to working closely with the council going forward."
As a gesture of thanks to the fans, the administrators have reduced
the price for the final home match against Oxford United on Saturday
May 5 by £5 for home fans paying on the day.
Mr Ryder said: "I would like to thank Bob Young and his team for his work and particularly in agreeing to reduce admission prices for the last home game of the season. I hope this will lead to a great crowd and atmosphere in Vale Park which will give the team a huge boost."