Keith Ryder finalises deal this afternoon.
Prefered bidder Keith Ryder and Port Vale's administrators have this afternoon signed contracts to complete the sale of the football club.
The deal still needs to be ratified by the F.A. and Football League.
Bob Young from administrators Begbies Traynor has been speaking to Signal's Jenny Bonson...
In a statement on the club's website Mr Ryder said: "This is set to be an exciting new era for Port Vale Football Club and it’s a challenge which I am already relishing.
"The process of buying the club was never something we could rush, but we always stated publicly that we wanted to sign by the end of June and we have done that.
"We have submitted all of the necessary documentation to the Football League and we will now wait for the deal to be ratified.
"I am now looking forward to starting the journey in earnest and hope that all of the club’s supporters will join me as we try and return Port Vale to better times.”