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Club Statement

Ottawa Green

Administrator
Staff member
Lowey Sponsor
Sep 18, 2003
17,129
56
70
Ottawa, Canada
http://www.pafc.co.uk/page/NewsDetail/0 ... 09,00.html

Statement from The P&A Partnership, re: Plymouth Argyle Football Company Limited (in administration):

"The joint administrators of Plymouth Argyle Football Company Limited (in administration) are satisfied that Bishop International Limited has secured the necessary funding and everything is agreed between the numerous parties.

"Solicitors are now working to finalise the documentation and complete the sale to Bishop International Limited / Plymouth Argyle (125) Limited.
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"Brendan Guilfoyle said: 'This has been a complex deal involving a dozen stakeholders. I am very grateful for the assistance I have received from everyone involved in the sale.

"'I can now look forward to the new club obtaining the share from the Football League and retaining their status as a Football League member club'."
 
Feb 23, 2008
1,676
0
Southampton
http://www.pafc.co.uk/page/NewsDetail/0 ... 09,00.html

""The joint administrators of Plymouth Argyle Football Company Limited (in administration) are satisfied that Bishop International Limited has secured the necessary funding and everything is agreed between the numerous parties.

"Solicitors are now working to finalise the documentation and complete the sale to Bishop International Limited / Plymouth Argyle (125) Limited.

"Brendan Guilfoyle said: 'This has been a complex deal involving a dozen stakeholders. I am very grateful for the assistance I have received from everyone involved in the sale.

"'I can now look forward to the new club obtaining the share from the Football League and retaining their status as a Football League member club'.""
 
Apr 15, 2008
4,060
0
London
Well, I know a lot of people won't agree, but, if true, this is good news. Does it mean the end to the bad times? Noooo, not by a long chalk.... but there's hope.
 
Dec 30, 2010
120
0
United Kingdom
Blimey, difficult to decide whether this is good news or bad.

The most important thing surely has to be the survival of the football club.

Crewe at home anyone??
 
Feb 21, 2008
510
0
Will be happier when it says it is signed and the money is there, not "satisfied they have secured funding" as that still sounds like its not gone through quite yet.....closer but not yet.
 

The Doctor

Lowey Sponsor
Sep 15, 2003
6,320
17
Very odd statement. Implies funding definitely in place but doesn't confirm transfer of football share which was condition before BIL completed deal. Implies confirmation of funding was needed before FL share transfer could be confirmed. Guess it's positive though (at least as far as non-liquidation is concerned). But I can't quite fathom exactly what it means.
 
Feb 17, 2004
8,360
5
cheshire
More detail needed about this.

I can now look forward to the new club obtaining the share from the Football League and retaining their status as a Football League member club'."

No share yet - so is it premature to say "deal done"?
 
Nov 11, 2006
642
0
Not a done deal yet at all. It's a fudge statement. 'Satified BIL has the funding' - what does that mean? Another solictor's letter? Means nothing. The money hasn't been paid, lawyers are yet to draw up contracts and the FL is yet to give it's approval. This is going to drag on for a while yet.
 
Apr 6, 2006
170
0
Devonportender":rhq0njyx said:
Why do i still feel unsure and worried??
Because nothing has actually changed.

Because it's all in the nuance of the language

'are satisfied' does not mean 'we have got the money' nor does it mean 'we have sold them the club'

and 'look forward to' does not mean that Ridsdale has the Golden Share

As I said in another thread, these two things were unlikely to happen today.

Now, this is either good news or not so good news

If BIL formally sign all the contracts and passed over the money and then hand the club to Peter Ridsdale by, say, Monday then Ridsdale case that the club is owned by him 100% and Heaney is not involved is probably more robust.

The chance of him getting the Golden Share increases.

However, if we are still in the situation of BIL's sale being dependent on the FL approval then the FL can still argue that Heaney is clearly involved and that might be a problem...

Anyway, let's be clear as of 5pm today, we do NOT have new owners....but progress has been made...
 
Jan 29, 2006
3,421
0
Canterbury
So who are these Bishop International people then?

I was keen to go to Crewe, but don't think I'll be giving my cash to Stapleton/NWO/Japs or whoever who are hiding behind Bishop International.

My money is on Stapleton
 
Feb 21, 2008
510
0
Its hardly a done deal and unless that money is somehow legally withheld i could still see the FL telling them no and them pulling out.
 
Feb 23, 2008
1,676
0
Southampton
I can't believe it's Heaney alone, given his other reported financial issues. But who would pick Heaney as a front man given that?

I hope the FL at least force their identities to be made public as part of the handing over of the share.
 
Jul 29, 2010
12,001
6
Staths":3i5ell7f said:
Blimey, difficult to decide whether this is good news or bad.

The most important thing surely has to be the survival of the football club.

Crewe at home anyone??

I should imagine the decision as to whether you view it as good or bad news will fall pretty much in line with the relative battle lines drawn during the process. To that end it will come as no surprise to anyone that this is to me the worst of all news.

I have considered my football club to be devoid of spirit and function dead for the last couple of months anyway, this news would just be the switching off of the life support machine, the confirmation of death. While the machine was on though there was always the hope of a miracle, with the switching off of the machine that miracle can not now come.

You are correct in your assertion that the most important thing is the survival of the football club and in that regards I agree. The football club however is NOT the cheap and nasty team going through the motions in a cheap and nasty football kit with the promise of a cheap and nasty certificate if you give a hooky businessman lots of money to be a 'founding father' of the said cheap and nasty rip-off cuckoo in our nest.

F**K PAFC 125.

F**K Peter Ridsdale.

F**K Kevin Heaney.

F**K you very much Brendan Guilfoyle.

Viva Plymouth Argyle, it lives on in memory only now, the spirit, history and tradition preserved in our hearts and on Greens On Screen forever. THAT club, OUR club survives and one day it'll make a return, we WILL get our club back one day but 124 years stops here.
 

The Doctor

Lowey Sponsor
Sep 15, 2003
6,320
17
Statement says nothing different from what Guilfoyle said earlier this week in my opinion. Seems just as far from done deal as ever BUT statement does give Guilfoyle excuse not to speak with James Brent (yet)