More trouble for Plymouth

[8ace]

Set to go into admin, breaking news...

 

[Horsham Gull]

Plymouth Argyle | News | Latest News | Latest News | CLUB STATEMENT

"ARGYLE deputy chairman Paul Stapleton released the following statement at 1.45pm on Monday, February 21, 2011:

The Directors of Plymouth Argyle Football Club have today issued a 'Notice of Intention' to appoint an administrator as they continue to seek a solution to the Company's current cash flow problems.

This action gives the Club protection from Insolvency Action from Creditors, whilst at the same time allowing the Directors the opportunity to turn current expressions of interest into a permanent and lasting solution for the Club."

 

[Gritt23]

Well, the beeb are running the ticker that they are to be deducted 10 points due to "cashflow issues". Now there aren't any points deductions for paying people late, so that must mean they are about to fall into admin.

 

[Stoo82]

poor buggers

 

[Mellotron]

Would drop them right in it, 10 points from safety if the deduction is applied.

 

[Horsham Gull]

from reading there fans site http://www.pasoti.co.uk/talk/viewtopic.php?t=51894 sounds like they now have 10 days to appoint an administrator

 

[Barrel of Fun]

Quite a turnaround. Things were looking up for them at the turn of the century. They had large crowds and they purchased their stadium for £3m.

 

[mcshane in the 79th]

Should we all be hating them now for not paying their bills and shafting a load of people? Or is that just reserved for Palace, Leeds, Pompey etc?

 

[Simster]

Another Ridsdale related TRIUMPH then.

Honestly, has he ever made any club any better? f***ing USELESS.

 

[Silent Bob]

Should we all be hating them now for not paying their bills and shafting a load of people? Or is that just reserved for Palace, Leeds, Pompey etc?

Well we don't know if they're going down the Portsmouth/Palace 1p in the £ route yet, or if they're going to come out and carry on spending money. Plus they've sold players to keep going which is more than you can say for our Croydon friends.

 

[Acker79]

Should we all be hating them now for not paying their bills and shafting a load of people? Or is that just reserved for Palace, Leeds, Pompey etc?

Plymouth paid their bills or at least their tax bills, they sold key players to be able to do so, which is different at least to pompey. They have said their issue is in cash flow, and we're now outside the transfer window so they can't really sell players to raise funds for upcoming bills.

The bit in the statement that reads "whilst at the same time allowing the Directors the opportunity to turn current expressions of interest into a permanent and lasting solution for the Club." suggests to me, perhaps, this is more about there being someone out there who has the money to buy the club and keep it afloat, but who is, like is becoming more common place, waiting for the club to go into administration to get them on the cheap, and rather than using current owners money to run up a debt, go into admin, sell the club on the cheap before you have to invest to keep it going. If that makes sense, I might be rambling there. Sorry.

 

[mcshane in the 79th]

Plymouth paid their bills or at least their tax bills, they sold key players to be able to do so, which is different at least to pompey. They have said their issue is in cash flow, and we're now outside the transfer window so they can't really sell players to raise funds for upcoming bills.

The bit in the statement that reads "whilst at the same time allowing the Directors the opportunity to turn current expressions of interest into a permanent and lasting solution for the Club." suggests to me, perhaps, this is more about there being someone out there who has the money to buy the club and keep it afloat, but who is, like is becoming more common place, waiting for the club to go into administration to get them on the cheap, and rather than using current owners money to run up a debt, go into admin, sell the club on the cheap before you have to invest to keep it going. If that makes sense, I might be rambling there. Sorry.

You're not rambling at all, no need to be sorry!

 

[Acker79]

You're not rambling at all, no need to be sorry!

Thanks. I was concerned by the numbers of commas.

 

[Cantona's Flying Dropkick]

Even more in the shit!

Plymouth Argyle have no money left, says Peter Ridsdale