League Two side Port Vale are officially out of administration, eight months after entering it in March of this year.

Paul Wildes's £1.25m takeover of the club has been approved by the administrators Begbies Traynor and the Football League.

"I would like to thank the Port Vale supporters, once again, for their ongoing patience and support," Sky Sports News quotes Wildes as saying. "It has been a long process but we are delighted to have finally taken over the club and look forward to a long and successful association.

"As I have previously stated, our intention is to develop the club both on and off the field.

"On the pitch we're continuing to support manager Micky Adams and the squad as they push for promotion. Off the pitch we have made some key appointments to ensure the immediate and ongoing success of the club."

Port Vale are currently second in League Two.