Admittedly I seriously considered putting the Club back into administration but the consequences of that would have been catastrophic so, having made my peace with Micky Adams, we agreed a course of rebuilding our Club. Valiants, I took up the Chairmanship of this great Club four years ago, with the football club and its parent insolvent, a very large unpaid creditors list, and with no knowledge whatsoever of running a football club.

When I really understood that, I think for some of you that was unfortunately too late.  Being focused in trying to stabilise the Club I ignored and took for granted the most important asset the football club has, and that is you the supporters.  On his departure I became vulnerable without his structured management of the football department. I did not realise what a big asset Micky Adams was until he left us who, in reality, he was much more than just the manager.

 In thinking outside the box last summer I have clearly seriously damaged our Club, resulting in Sunday’s relegation which was never my intention as the Club is now a very big part of my life. I deeply regret the actions and appointments I made during the closed season and would like to apologise sincerely to all supporters, Port Vale staff and the wider Burslem community for the impact of my decisions last summer.

The three managers under my watch have had my full and unwavering support both financially and with full autonomy. When considering Bruno’s replacement I interviewed a very successful established manager who stated that my loyalty to the people I employ was my achilles heel, something which may have contributed to where we find ourselves today.

Sadly, due the environment of the last few months, I do not feel that is now possible.  Under normal circumstances that’s how I would be thinking today wanting to roll my sleeves up, plan and fund our way back to League 1 next season. I have had a modicum of success in my business life and when I endured setbacks, of which there were many, I used to dust myself down and get back into the project in hand.

I will leave it to Colin Garlick the Club’s CEO, and the team he is building, to work through what will be a very difficult period for the football club. It is with a heavy heart that I have decided to stand down as Chairman with immediate effect and relinquish all remaining duties that I am involved in.

I will not be making any further comment or statement until the football club is sold but will endeavour to ensure that the right party purchase the Club. I will also not be attending any games at Vale Park going forward.

All that I ask is that you, the supporters, please put any differences that you may have behind you and try to fully support your Club as it will need you now more than ever.

Norman Smurthwaite