A deal to buy Plymouth Argyle out of administration has been agreed between Administrator Brendan Guilfoyle and the club's preferred bidder, a consortium of property developers.
The group believed to be headed by a millionaire Irish property developer is believed to be paying in the region of £5million that will controversially see the club's land assets parted from the football club itself with the club being sold to current acting Chairman Peter Ridsdale.
Once the deal has gone through, the Pilgrims will then face a race against time to be ready for the forthcoming season as manager Peter Reid has much work to do to assemble a squad capable of competing in League Two.
As things stand, Argyle only have a squad of between 12 and 14 players as Reid was forced to make a mass clearout because of the situation at the club.
Now he will be looking up his lists of contacts as he looks to build a team of his own, something which, until now, he has been unable to since he replaced Paul Mariner last summer.
