Argyle deal nears completion

Despite last minute hitches, a deal to take Plymouth Argyle out of administration is nearing completion.   Under the arrangement the property assets and the club itself will be run by separate companies.

Despite last minute hitches, a deal to take Plymouth Argyle out of administration is nearing completion.   Under the arrangement the property assets and the club itself will be run by separate companies.


Cornish property developer Kevin Heaney and his associates will acquire the stadium and surrounding land which includes a substantial piece of development land abutting the south stand.   Heaney is the owner of Conference South club Truro City and therefore cannot be involved in running Argyle.


The club has been sold to Peter Ridsdale, formerly involved with Leeds United and Cardiff City, for £1.   Funding for the coming season in League 2 will be provided by Heaney through his Bishop International vehicle which is registered in Gibraltar.   This will enable Ridsdale to revive the playing side of the club which will in effect be a tenant in Home Park.