The prospective purchaser of Plymouth Argyle, James Brent, reckons that his bid to buy the club is 95 per cent of the way there, but as is often the case, the last five per cent is proving tricky. It doesn’t look as if the deal will be finalised by close of business today which means it will not be concluded this week.
The prospective purchaser of Plymouth Argyle, James Brent, reckons that his bid to buy the club is 95 per cent of the way there, but as is often the case, the last five per cent is proving tricky. It doesn’t look as if the deal will be finalised by close of business today which means it will not be concluded this week.
One issue is the fees due to the lawyers and the administrators which now amount to £1.2m. Both the administrators, P & A Partnership, and the lawyers, Walker Morris, would be prepared to accept half their fees, but James Brent offered £400,000 when he tabled his offer in March so this gap has to be closed.
Former Argyle manager Peter Reid and ex-chief operating officer Tony Campbell have to agree the details of the deal. Mr Campbell was instrumental in bringing the Japan-based directors to Home Park and some of the comments made by Argyle fans on the Herald website are critical of his role in the club’s downfall. He is disputing £6,000 left on his contract when he was made redundant, but also says there are questions of principle involved.
This has been a long drawn out saga and very difficult for the Green Army, but hopefully we are now in the final furlong.