The financial situation at Plymouth Argyle has been described as ‘dire’. Perhaps one measure of that is that Peter Ridsdale has been brought in as an unpaid consultant as the Pilgrims attempt to sort out their finances ahead of their court hearing on February 9th. Ridsdale’s role at Leeds United was controversial, but he would claim that he helped to turn Cardiff City into a viable club challenging for the Premiership.
The financial situation at Plymouth Argyle has been described as ‘dire’. Perhaps one measure of that is that Peter Ridsdale has been brought in as an unpaid consultant as the Pilgrims attempt to sort out their finances ahead of their court hearing on February 9th. Ridsdale’s role at Leeds United was controversial, but he would claim that he helped to turn Cardiff City into a viable club challenging for the Premiership.
Argyle has debts of around £9m and the risk of liquidation is a very real one. A city the size of Plymouth with its well populated hinterland should be able to sustain at least a League 1 city, notwithstanding the fact that the city faces economic challenges and rugby is popular in Devon and Cornwall. However, attendances have been declining while the wage bill has spiralled as the club sought to return to the Championship. Sometimes the price of success can be too high.