At the meeting on Saturday Brenda asked sarcastically if you know of anyone who'd want to buy the club for a £1 ....... please see below an email that I have copied ..... I'll give the trust the £1 lol See below, a letter from the Trust but written in consultation with the Contingency Plan Committee. You will see that we are attempting to backstop the two main positions that would otherwise lead to liquidation: 1) - if the SAP agreement falls. 2) - if the FL cuts up about ownership. ----------------------------------------------------------------------------- Brendan Guilfoyle Esq., Joint Administrator, Plymouth Argyle Football Company Ltd. By email Dear Brendan, THE PLYMOUTH ARGYLE FOOTBALL CLUB LIMITED - IN ADMINISTRATION Thank you for your time on Saturday: we are grateful to Peter and you for committing your time to update the fans. We agree that the focus should be on exiting the Club from administration and we hope that your confidence in the BIL/PAFC (125) combination is justified. As you know better than any of us, time is running out for the Club. In the event that BIL/PAFC (125) is in a position to complete its Sale and Purchase (SAP) Agreement but there remains an insurmountable issue with the Football League (FL), the Argyle Fansâ Trust gives you notice that we are prepared to buy the club for a nominal sum of £1 and run it in accordance with the requirements of the FL. We are confident that there would be no dual interest challenges and we have some views as to how the business plan might be enhanced to address any FL concerns. Further, we are confident that the Trust would be able to work alongside Peter Ridsdale and David Jones, thereby safeguarding the future of the club. We were particularly pleased to note your statement on Saturday that, in the event that the BIL/PAFC (125) SAP Agreement is not able to be completed, you will engage with James Brent and representatives of the Contingency Plan Committee. You committed to doing your best to giving us a reasonable time period to bring that to fruition - you saw in person on Saturday how much this would mean to Argyle supporters! We remain grateful to you for your considerable efforts to save the club; we recognise the extreme difficulty and complexity of the issues at hand and are willing to discuss any relevant issue with you and your representatives at very short notice, in any location. Yours sincerely, Peter Ryan, Secretary, Argyle Fans' Trust. CC: Peter Ridsdale, James Brent, Greg Clarke (Chair, Football League), Cllr Vivien Pengelly, James Mathie (Supporters Direct), all members of the Contingency Plan Committee. _________________ Resurgam! Argyle Fans' Trust - www.argylefanstrust.com
They've played a blinder Sensible it means should the BP fail, Brenda can't automatically liquidate us .... not sure how that work though to be honest lol
I can,t see how it will fail now. Hopefully all sorted tomorrow! I read all that above on pasoti earlier. Interesting. But no one is talking football on many threads. This is still taking over. Its boring me.
Joe the Truro players haven't been paid for weeks, and Heineous is supposed to be getting a bridging loan ..... that in itself should be sounding alarm bells especially to the FL
A bridging loan will cost them, especially on the amount they want to bridge. Interest will be alot. Also if there are Irish wealthy backers surely they would not want a bridging loan? i don't understand it all no more.
