Sunday, 14 August 2011

ARGYLE FUTURE REMAINS ON CLIFF EDGE

The future of Plymouth Argyle remains "on a cliff edge" as Administrator Brendan Guilfoyle aims to resolve the sale of the League Two side.

Mr Guilfoyle has issued the club's preferred bidder, Bishop International-an offshore company led by Truro City Chairman Kevin Heaney until Tuesday to prove that they have the necessary funding to complete the purchase of the club.

Once the deal has been finalised, the club will then be sold to the Pilgrims' current acting Chairman Peter Ridsdale with Mr Heaney retaining ownership of Home Park, through the company, thus becoming the club's landlord.

However, fans have signed a 3,000 strong petition begging Mr Guilfoyle to consider an alternative bid from Devon entrepreneur James Brent should Mr Heaney fail to guarantee the necessary funding.

Nevertheless, the deal with Bishop International Ltd will still need to be approved by the Football League, who must be satisfied that the deal does not give Mr Heaney power over two football clubs.

One person who will be keen to see the sale of the club completed is Argyle boss Peter Reid, who will undoubtedly will be keen to strengthen his side after they went down to a 4-1 defeat at the hands of current League Two leaders Rotherham United, a result that leaves the Pilgrims fourth from bottom of the league.