Betfred Sport

Plymouth takeover approved

The takeover of Plymouth Argyle by businessman James Brent has been approved. Brent’s Akkeron Group have agreed to pay off the fees owed to the administrators.

"I am delighted that we have agreed a deal that will see Plymouth Argyle Football Club coming out of administration," said administrator Brendan Guilfoyle in a statement.

"I would like to thank everyone for their patience and continued support during complex negotiations to save the club."

Argyle have been struggling financially for over a year, and are rooted to the bottom of the Football League.
Acting chairman Peter Risdale, who has been trying to find a buyer for the club, said: "I'm pleased for all the staff and players who have been living on a knife edge for so long.

"It's very comforting as a city of this size needs a professional football club. I think the staff are still taking it in. It's been a long time coming and it's not something you can take on board that easily after such a long time but everyone is very happy."

It appeared that the club were originally going to be taken over by Gibraltar-based Bishop International, but that protracted takeover fell through, allowing Brent to step in.

Brent was the fans preferred choice and his plans to sell their Home Park stadium to Plymouth City Council for £1.6 million in order to raise funds for the club proved a major factor in his bid.

By Andy Wilkins

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