Vale close in on new investment

Chairman Bill Bratt has worked hard to secure fresh investment

League Two strugglers Port Vale could secure £500,000 of new investment from property company Harlequin by the end of May, reports BBC Radio Stoke.

Vale chairman Bill Bratt said: "We are in the final stages of negotiations with Harlequin. They've been the best sponsors we've ever had.

"Hopefully in the next three weeks we can finalise all the arrangements."

The Vale board, which is presently comprised of nine directors, is likely to be reduced as a result of the deal.

Bratt added: "Everyone knows that the board will have to be slimmed down, and the board accepts that.

"It all depends on what Harlequin want to do, and any other investor that comes along with them."

If a deal does go through, the Essex-based company could be given a say in all matters at the club, and Bratt has said they could even be given the power to appoint a new manager.

"Harlequin and anyone else who comes in have got to have their say on that," said Bratt. "At the end of the day, whoever pays the piper calls the tune.

"Obviously they will need guidance from the people that are already here and it's one of those things that they will have to decide what they are going to do."

Port Vale manager Dean Glover told BBC Radio Stoke that rumours of possible investment and change at the club is making it difficult for him to plan for the future.

"I'm still here at the moment and if they want it different, they'll make that decision," said Glover.

"I've no doubt that I'll thrash that out with the board over the next week or so, as to what they're asking of me to do. Hopefully we can have some more, better answers."

Meanwhile, Bratt has said he is unconcerned that only 65 people have taken up the offer to renew their season tickets for the 2009/10 campaign.

"It's a bit less than it was at this stage last year, but not a great deal," added Bratt. "Most people will hang on to their money until the last week or so of the offer, so I'm not unduly worried."