Wednesday, March 02, 2011

2 March 2011: Futile

Matt Slater has penned an interesting, if depressing, summary of the Argyle situation here.

The main thing seems to be that nobody has either the money or the inclination to stop the club falling into administration or worse. Ridsdale has walked out (third time that's happened? Don't really believe him any more... if I ever did...) saying the Directors are all just doing in-fighting and nobody is actually trying to solve the problems.

The Japanese have a new investor in their ranks and he has sent over 1.4 million quid.. but not to Argyle, instead to the club's lawyers. They are holding it until the local directors put in 50k each, at which point the funds will be released.

But all that will happen is that they'll then pay January's wages with it (maybe February's too) and then owe a huge tax bill on it.

And with the ten day grace period following the Notice To Appoint An Administrator up on Monday, and only a fifty-fifty chance of getting it extended by another ten days, many Argyle fans are saying this is probably the darkest moment so far in the saga.

There's no intrigue or corruption undertones like with Pompey, there's no wealthy fans who may or may not be interested like with Saints... just a nice family club that's been run into the ground by greedy opportunists who saw a potential World Cup bid and put all Argyle's eggs in that ridiculous-sounding basket.

Latest rumour is that Argyle can't even afford to appoint an administrator. If that's the case, the end may be a lot nearer than we think.

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