Tag: Plymouth Argyle

Plymouth’s Takeover Takes A Worrying Twist

So near, yet so far. The future of Plymouth Argyle seems likely to be thrown into fresh turmoil if rumours that started circulating late yesterday afternoon regarding an attempt on the part of three former directors of the club to buy the mortgage held over its Home Park ground by Lombard North Central PLC. Just over week ago, it seemed as if the future of the club was finally set to look a little brighter. The bid of Bishop International Limited to purchase the ground and pass on ownership to Peter Ridsdale for £1 had collapsed, whilst on the pitch the Fans Reunited Day at Home Park was a great success, with this success being mirrored on the pitch with the team finally registering its first win of the season, against Macclesfield Town. The latest news came from a source described by Chris Webb of the Argyle Fans Trust as “sources … as close to the process as you could possibly get”, and the news is extremely troubling for all supporters of the club. Paul Stapleton was the vice-chairman, company secretary and accountant for the club as it ran up a quite remarkable debt of £17m. As a trustee of the Plymouth Argyle Supporters, Training and Development Trust, he was there and present when this organisation, whose purpose is to promote the training and education of young footballers, lent £330,000 to...

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Yesterday In Plymouth: Peter Ridsdale – In Or Out?

Yesterday in Plymouth, shortly before noon, the BBC ‘understood’ that, Peter Ridsdale “is to step down from involvement with Plymouth Argyle.” I smiled. The statement seemed to explain an odd occurrence earlier that morning. A Plymouth article on the BBC website at half-past-nine referenced a Ridsdale interview for today’s BBC ‘Football Focus’ programme in which he said the takeover would be complete by October 10th. By ten o’clock, the reference to Ridsdale had been excised. And the BBC’s noonday ‘understanding’ appeared to explain why. Five hours later, Peter Ridsdale told us what that really meant. I stopped smiling. I should have known better. Even the words “step down from involvement” should have rung alarm bells in my head. If Ridsdale was to leave Argyle, the BBC would have understood that he “is to leave Plymouth Argyle”? His short-ish statement on Argyle’s official website made no mention whatsoever of stepping down from “involvement.” The closest was “I can confirm that my role as ‘Acting Chairman of Plymouth Argyle Football Club’ on behalf of the Administrator will finish on the completion of James Brent’s takeover.” Well, yes. That is a remarkable statement in that it has Ridsdale’s name attached to it and it is…true; but only because every role at “Plymouth Argyle Football Club on behalf of the Administrator” will “finish on the completion of James Brent’s takeover.” Even if the...

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A Winding Up Order For Truro City

The London Gazette can be a treasure trove of information. The official journal record of the British government contains years and years of official information and one notice, published yesterday, really caught the eye – a winding up order issued against Truro City Football Club Limited. This story, which may yet end up turning out to be a case of much ado about nothing – specific details regarding the amount owed are somewhat thin on the ground at present – will be of particular interest to the supporters of Plymouth Argyle, of course, since the club’s owner, Kevin Heaney, has been at the centre of what is increasingly looking like a failed bid to buy Plymouth’s Home Park, with the former Leeds United chairman Peter Ridsdale being set to take over the running of the club. Perhaps the question that supporters of both Plymouth and Truro will be asking today is that of whether Heaney’s money, which has propelled Truro up from the South-Western League to the Blue Square South over the last few years, has run out, or whether there is more to this story than meets the eye. There was a time when the story of Truro City might have been regarded by some – or even many, perhaps – as a fairytale, but the days of most neutrals standing back and passively admiring the noblesse oblige...

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Peter Reid Pays The Price At Plymouth

They lost again yesterday, of course, a two-nil reverse at Southend United which left them anchored to the bottom of the entire Football League and this morning, in an act entirely at odds with the slow, long, drawn out procedure of the take-over of Plymouth Argyle, Peter Reid paid the price for his failure as an alchemist with his job. He had been unable to muster a win in League Two following the club’s administration-spurred relegation from League One at the end of last season. There will be some that will argue that there was an air of inevitability about such a decision being taken, but many Plymouth supporters will this afternoon be likely to offer a small thanks to Reid for much of what he has done for their club over the last few months. Whilst Reid has not been successful on the pitch (although he was obviously operating with one hand tied behind his back), it is the way with which he has carried himself away from it which has really impressed. In March, he donated his runners-up medal from the 1986 FA Cup Final in the aid of the club. He was also reported to have paid the club’s heating bill from his own pocket, after supplies ran out in December of last year and to have paid the wages of some youth team players. The...

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Yesterday In Plymouth… Nearly There?

Yesterday in Plymouth, ‘Cornish-based property developer’ Kevin Heaney appeared to finally disappear from contention as the part-saviour of the Argyle Football Club, as he should have done months ago in Plymouth. And, it would seem, ‘Devon-based entrepreneur’ James Brent appeared to finally re-appear as the preferred bidder for the club, as he should have been months ago in Plymouth. There remains plenty of material with which cynics can work. However, there are genuine, if currently intangible, signs that Plymouth Argyle are closer to exiting administration with all creditors (needy and greedy) satisfied; not least, it surprises me to admit, in the attitude of the most important individual in this whole saga, Peter Ridsdale. Yesterday in Plymouth, everyone had a statement to make – Brent, Plymouth City Council leader Vivien Pengelly (an Argyle season-ticket holder) and ‘the club’ – i.e. Ridsdale. Everyone, that is, except the administrators, the P & A Partnership. It was no surprise that we heard nothing direct from lead administrator Brendan Guilfoyle, as his visibility and audibility have, probably by no co-incidence whatsoever, been in direct proportion to Heaney’s chances of completing the takeover.  But P & A Partnership themselves have had a busy week. A veritable rogues gallery of seemingly serial football club bidders and business characters of varying degrees of shade have queued up to “hold talks” with the Yorkshire-based insolvency practitioners, in the...

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