Mike Newton has revealed his plans to become chairman of Port Vale should his £400,000 offer of investment be accepted by the club`s board. The New York-based businessman, who was born in Staffordshire, shared his vision with fans in Burslem on Sunday night, with Vale`s hierarchy still mulling over his formal proposal which was made just over a week ago. His plan includes a complete shake up of the League Two club to get them back on track with Vale set to announce reported heavy losses of around £500,000 for the last financial year. "The directors know the cash is there," Newton is quoted as saying in The Sentinel. "It's sitting in an HSBC account and ready to go. "If I'm going to put £400,000 in, I'm going to become chairman and I want control but the chairman and chief executive (CEO) cannot be the same person. No final decision has been made on the CEO but it must be somebody who understands the football side." Newton, who revealed he has already held upbeat conversations with manager Micky Adams, added: "If holes need to be plugged ahead of the first team, then tough. We've got to get costs down and revenue up and provide what we can for the first team. I can't sugarcoat it. We've got to be more productive with the youth set-up and we have to develop relations with Championship clubs to get the best young players in on loan."
Source: PA
Source: PA