Synectics Solutions Remains Hopeful Of Buying English Side Port Vale

Staffordshire-based IT company Synectics Solutions remains "hopeful" of buying English football side Port Vale, "despite having two bids rejected," according to the BBC. Vale Owner Norman Smurthwaite, who stood down as chair "in the wake of relegation to League Two," confirmed both offers had been "turned down." He also rejected a rival bid from IT company Manor PC's Kevin Jones, saying, "I do not anticipate any further dialogue with either party with regard to the sale." Smurthwaite claimed that Synectics Solutions' second offer, if accepted, "could have had serious financial implications going forward for Port Vale." But, in a statement of its own, Synectics said, "Our initial offer of £1.25m was based on the information we had at that time. Subsequently, Norman informed us that there were potential, additional short-term revenues which would increase the value of the club. In light of this information, we increased our offer subject to full disclosure prior to any deal being agreed" (BBC, 5/9).