07-05-2019, 15:03
Port Vale owner Norman Smurthwaite has sold the League Two club to local IT firm owners Carol and Kevin Shanahan.
A statement on the club website revealed that the Shanahans, who own Hanley-based firm Synectics Solutions, have bought the club in its entirety.
Smurthwaite, who took Vale out of administration in 2012, had threatened to put the club in administration if a buyer was not found by 5 May.
Vale finished 20th in League Two - eight points clear of relegation.
Vale's statement said: "The club can confirm that Carol and Kevin Shanahan have completed the purchase of Port Vale Football Club.
"The first action has been for the club to purchase Vale Park in its entirety and bring it back under the ownership of the club.
"All future revenue generated within Vale Park will remain within Port Vale Football Club."
Vale were first put up for sale by Smurthwaite in 2016, since when the Shanahans have made several bids to buy the club and its Vale Park ground - which was owned by Smurthwaite through a separate company.
A statement on the club website revealed that the Shanahans, who own Hanley-based firm Synectics Solutions, have bought the club in its entirety.
Smurthwaite, who took Vale out of administration in 2012, had threatened to put the club in administration if a buyer was not found by 5 May.
Vale finished 20th in League Two - eight points clear of relegation.
Vale's statement said: "The club can confirm that Carol and Kevin Shanahan have completed the purchase of Port Vale Football Club.
"The first action has been for the club to purchase Vale Park in its entirety and bring it back under the ownership of the club.
"All future revenue generated within Vale Park will remain within Port Vale Football Club."
Vale were first put up for sale by Smurthwaite in 2016, since when the Shanahans have made several bids to buy the club and its Vale Park ground - which was owned by Smurthwaite through a separate company.
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