Friday 11 February 2011

WHAT NEXT FOR ARGYLE?

After seeing the winding up order brought against them by HMRC dismissed in the High Court, this week Plymouth Argyle continue the fight for their existence.

The club are believed to be owed £2million by Japanese based directors George Synan and Yasuaki Kagami, which would secure the Pilgrims' future until the end of the season.

A fire sale of players during the January transfer window, which saw a number of players leave Home Park, including Craig Noone, Reda Johnson and Bradley Wright-Phillips, helped the club to pay off their debts to the Inland Revenue, but they remain in the region of £9million in the red.

Administration and, or, Liquidation of Argyle are still threats that loom large.

One way the club could secure their immediate would be the possible sale of Home Park which, following the closing of the transfer window, is the Pilgrims' most valuable asset as Argyle are no longer in the position to sell any more players.

The Leader of Plymouth City Council Vivien Pengilly has ruled out the possibility of buying back the ground from the club.

With the current recession seeing local authorities making cut backs across the board, it is perhaps unrealistic to pining the future of the club solely on the bail out by the council.

However, if the council did decide to change their mind on buying the stadium, it would potentially be a win-win situation for all.

When the council sold the ground to Argyle, it was for a figure of £2.7million. But, say, if the council bought the ground from the club for a figure that was slightly less than the sum which they received for it, the monies raised would able to keep the club going until the end of the season.

The survival of the club would be of benefit to the city and the local council and they would receive a rental income from the stadium and the wider community would benefit from the club's continuing existence in many varied ways.

In the meantime, the current board of directors, both those based locally and elsewhere, could plan an exit strategy and sale of the club.

Also, the transfer embargo which manager Peter Reid is currently operating under would be lifted and would see the former Sunderland boss able to make new loan signings to strengthen his squad.

One player that Reid was keen on previously was midfielder Conor Clifford, who was with Argyle earlier in the season on loan from Chelsea, has joined Notts County for an initial one month loan deal.