Saturday, 16 October 2010

The Wrong Noises?

A couple of articles appeared in the Plymouth Herald this week that make potentially worrying reading.

1. The non-investment from Japan

Argyle's biggest shareholder Kagami, Japanese multi-millionare has failed to invest anything in the last 15 months since he took majority of shares, save the initial share investment.

Although he is under no obligation really to, anyone can invest a lump sum of shares at the start and sit on it/them until they bring a return.

Keith Todd says that he would have anticipated more anticipation than that which has been forthcoming, however the purported £1million loan was never offered in the first place. The only thing that has happened is the "making [of] some introductions to some of their wider relationships"

In the same interview, Keith Todd answered questions regarding the club's finanical situation, in particularly administration, where by the alluded to the fact that the club's income is down ("It's no secret we got relegated and lost the best part of £3 million of income from TV rights. We have also got a squad size that is very large, [...] one thing about the football business is it's a fixed-cost base and a variable income stream. So that puts lots of pressures onto the financial position of any club.") and that the board do not believe administration is the right path to take, though it's not ruled out completely.

This really only confirms what we know already regarding the loss of income. However the board's determination not to go into administration is a good things surely? Even though they haven't ruled it out entirely, it's better to battle against that go with the flow. But, again, as known is the commitment t the Home Park/Central park development, this is what is suspected by many as taking the forefront of all dealings.

2. The selling club

Nothing's changed. Come the end of their contracts, players will be sold off to balance the books, although Todd has only alluded to out of contract players (ie the summer transfer window).

However, there is the January window yet to come and if the club are still desperate, then it can be guaranteed that some of the family silver will leave come the new year.

3. Home Park/Central Park development

As mentioned in Todd's interview, the HP/CP development is of high priority. Todd states that the conformation of the England 2018 bid would help to "clear a lot of air", although Argyle would have to wait until 2013 to find out if it was actually a host city. Todd has been in discussion with AEG over the management of the stadium, which could be sold to Plymouth Argyle Holdings Ltd. The application has yet to go before Plymouth City Council even though it was announced a few months ago, caused local consternation and allowed PCC to publish their own, more subtle, plan for Home Park.

Even so, the World Cup bid is the lynch-pin to all this, not once did Todd mention what would happen if England fail the bid, and if Plymouth then fail their bid. Neither has the prospect of what may happen if Argyle are relegated again, fail to be promoted or if club income does not improve.

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