Tuesday 16 October 2012 21:51, UK
Administrator Bob Young has confirmed the Port Vale players who agreed to reduced wages will be paid once Paul Wildes' takeover is completed.
Wildes was presented at a Vale Park press conference on Tuesday afternoon, with his Alchemy Investment Group poised to take charge of the club subject to Football League ratification. Flanking Wildes at the briefing, Young confirmed news that will come as a huge boost to the members of Micky Adams' playing staff who penned two-year deals during the close season. "Micky agreed to sign various players prior to the start of the season, many of them on two-year contracts," said Young. "Because we didn't know for certain at the start of the football season that we would find a buyer, I gave a commitment to the Football League that the administrators would pay for Port Vale throughout this season. And so we asked the players to sign amended contracts, just to run for this one football season. "When we do the deal with Paul, the original contracts that Micky had agreed to will revert. The Employment Rights Act will kick in based on the original contract lengths. The original contracts that Micky negotiated will be reinstated and Paul's new company will take those over."