Tuesday 7 May 2019 13:30, UK
Carol and Kevin Shanahan concluded a deal to buy Port Vale on Tuesday, ending Norman Smurthwaite’s six-and-a-half-year tenure as owner of the Sky Bet League Two club.
The Shanahans, who own Synectics Solutions, an IT company based in Stoke-on-Trent, next door to Vale Park, have become owners of the stadium as well as the club.
A Port Vale statement said: "The club can confirm that Carol and Kevin Shanahan have completed the purchase of Port Vale Football Club.
"The first action has been for the club to purchase Vale Park in its entirety and bring it back under the ownership of the club.
"All future revenue generated within Vale Park will remain within Port Vale Football Club.
"On behalf of the club, Carol and Kevin would like to thank everybody for their huge support during this process and look forward to the future success of Port Vale."
Since dropping down to League Two in 2017, Vale have faced successive relegation battles to stay in the football league, finishing 20th both this season and last.
Fans were demanding Smurthwaite's exit from the club, until the Shanahan's interest became known in April.
The new owners are regulars at home and away games and will hope to usher in a new era at Vale Park.
Securing a new deal for manager John Askey will be a top priority after he steered the club clear of relegation following his appointment in February.
