Port Vale come out of administration

Port Vale are out of administration after Paul Wildes' takeover of the npower League Two club was finalised.

Supported by his business partner Norman Smurthwaite, Wildes' Alchemy Investment Group's £1.25million bid was approved by administrators Begbies Traynor on Tuesday night.

The deal, which has also been approved by the Football League, sees the Valiants come out of administration, eight months after entering in March.

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