Property developer Kevin Heaney has pulled out of a bid to buy Plymouth Argyle, leaving the club in a perilous position. There is always a risk that the administrator may have to go to court to establish how much security should be applied to the stadium.
Property developer Kevin Heaney has pulled out of a bid to buy Plymouth Argyle, leaving the club in a perilous position. There is always a risk that the administrator may have to go to court to establish how much security should be applied to the stadium.
Varuous reasons have been cited for Heaney’s withdrawal. One issue was that of dual ownership with Heaney the backer of non-league Truro City, although some reports suggested that he would relinquish his interest there. Media reports were also referred to. Heaney’s property empire was liquidated in 2008. His plans for Argyle would have involved building a mutiplex cinema on the car park.
Given Heaney’s association with a potential backer in Japan who was linked with the discredited Japanese directors, his withdrawal may not disappoint Pilgrims fans. Administrator Brendan Guilfoyle now has to turn the one remaining bidder, hotelier John Brent. South-east property developer Paul Buttivant may also be approached again, although he has never formally declared an interest. Should either become a bidder, commercial development at Home Park is likely to feature in their plans.