Statement from Brendan Guilfoyle, joint administrator of Plymouth Argyle Football Company Limited (in administration)

7 July 2011 By Northern Lights

Statement from Brendan Guilfoyle, joint administrator of Plymouth Argyle Football Company Limited (in administration) image

This statement is made in response to an article which appeared in the Guardian on 6 July which said, “Paul Buttivant has hired a detective agency to look into circumstances that have led to the former Leeds chairman being the preferred bidder for Argyle’s football operation”.  Mr Buttivant claims to have been shut out of the sale process.

NB Bishop International Limited is the preferred bidder and will provide the necessary funding upon completion of the transaction. As part of the transaction, Peter Ridsdale will acquire 100% of the shares of a new company formed to operate the football club. Bishop International Limited will acquire the freehold of Home Park and surrounding land and provide the football club with a long lease on the stadium.

Season tickets are now on sale at the club following last week’s deal signed with Bishop International Limited and Plymouth Argyle (125) Limited and confirmation of funding in place.

Guilfoyle said: “This deal is critical to the survival of the club as it prepares for the new season. While we can understand why fans are still looking at other options, it is important that everyone appreciates that the sale of the club to Plymouth Argyle (125) Limited and the sale of the stadium and surrounding land to Bishop International Limited must go through to secure the football club’s future. There will be no other ‘rescue plan’ in the tight timescale we have.

“I want to thank fans and staff for their continued support through this difficult period and would ask them to back both Plymouth Argyle (125) Limited and Bishop International Limited. The club will need their support as they prepare for the new season, including seeking sponsors and finding new players.”

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Written by Northern Lights

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