Plymouth takeover

[Southampton Gull]

I want to have Stefano's babies, guy's a genius.

Matt.

You tart. Driving that car, did you ever think we assumed anything else?

[stefano]

You tart. Driving that car, did you ever think we assumed anything else?

I must stop pouting and flickering my eyes seductively every time I do a post! My mother warned me about that!

[Richinns]

Whats the latest going on here? This seems to be dragging on forever with nothing happening?

Has anyone been paid yet? Are they out of trouble or still very much in the sh1t?

I thought there was an important deadline last night but no one seems to be talking about it?

Its all very confusing!

[stefano]

Whats the latest going on here? This seems to be dragging on forever with nothing happening?

Has anyone been paid yet? Are they out of trouble or still very much in the sh1t?

I thought there was an important deadline last night but no one seems to be talking about it?

Its all very confusing!

The deadline yesterday was for Bishop International to prove that funding was in place and to have Football League approval by Friday. Friday is also the end of the preferred bidder agreement for Bishop International although it can be extended by the Administrator. The leader or spokesman for the bid Kevin Heaney has stated that proof of funds was delivered yesterday before the deadline. The Administrator is a little more guarded about confirming it.

The Football League approval is not a straightforward obstacle. Heaney owns Truro City and rules prevent a financial interest in two clubs. Heaney states that he is only involved in the property development side and that the football club will be sold to Peter Risdale for a pound. He though has to pass the fit and proper person test. You would normally expect that to be straightforward but it is complicated as he is at present involved in a Court case where he is basically charged with fraud. He is denying the charges.

There are very strong rumours that Heaney has put Truro City up for sale in order to fund this project. Heaney strongly denies it but he previously strongly denied any involvement in the Argyle bid until he was caught out by Argyle supporters at a meeting in a Plymouth hotel.

I expect one or two twists and turns yet and no Argyle are not safe from liquidation. The staff have still not been paid and basically they have no money until the deal goes through. Had the staff not agreed to defer their August wages (the 9th month in a row) the club would have been liquidated there and then.

The Supporters Trust have got a contingency plan with another bidder but the worry is that if things drag on and Bishop International do not come up with the funding then Argyle could be liquidated before the contingency plan can be put into place to save them.

Worrying times at Home Park and I hope it isn't why Brucie was so alarmingly cheerful last weekend!