|
|
Post by knowingeye on Jul 12, 2011 10:15:24 GMT
|
|
|
|
Post by lawrieleslie on Jul 12, 2011 15:55:22 GMT
KE I have been following this saga closely and I, along with many Argyle fans, smell a rat. When PAFC went into administration they declared debts of £8m. The administrators drastically revised this to £17m because PAFC had failed to declare unpaid wage debts, image rights, unpaid contracts to players and manager who had left etc etc. They were in deep dodo. Along comes Peter Ridsdale to offer his contacts and experience to the club to help them out of administration free of charge. A Japanese consortium, who were majority share holders in PAFC paid the HMRC debt to stave off winding up order. Still no wages in full to staff and players. A few players were sold at the end of the season and recently, but tbh it didn't amount to more than few 100k. One was sacked for refusing to agree to deferred wage payments
The only real asset PAFC have is their ground and surrounding land. A consortium from Ireland have had an offer of between £5 & £6m accepted (why can't they reveal exact amount?) by the club to buy the real estate but not the football club leaving PAFC as sitting tenants paying rent. Ridsdale has purchased the football club for £1 and is now the sole board member all others have been paid off. Therefore the club still have a hefty debt around their necks, Football League have to approve Ridsdale as "fit & Proper" bearing in mind he appears in Cardiff court on fraud charges in few weeks time. Thats why wages continue to not be paid. With projected gates of around 7-8k in div 2 they will remain a stuggling club imo.
|
|
