Plymouth Argyle takeover report bid involves significant revelation
The headline-grabbing involvement of former Real Madrid star Gareth Bale as part of a takeover bid for Plymouth Argyle was always going to ensure the story attracted maximum attention far and wide.
A quiet Monday afternoon in the middle of June, certainly when it came to all things Argyle, suddenly exploded into a social media frenzy after The Telegraph's Tom Morgan and John Percy first reported the details.
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They stated Bale had been 'lined up to front a US-based private equity group's potential takeover', and that talks were taking place behind the scenes 'over a bid for full control at Home Park'.
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Subsequent reporting by other national media outlets suggested those discussions were at an early stage, while Argyle declined to comment on the story when contacted by Plymouth Live.
Given even the possibility of 35-year-old Bale, one of the world's best players of his generation, becoming a co-owner of the Pilgrims it was no surprise that it prompted intense debate and speculation among the Green Army on social media.
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Bale would certainly bring 'star' appeal if the takeover bid ever came to fruition, in the same way as it did for Swansea City in April when their new ownership group included Luka Modric, another Real Madrid icon.
However, if you take Bale out of the equation for a moment, the wider point is the news could be of huge significance to the future of Argyle for years to come. What The Telegraph report made clear is that this takeover bid was for 'full control' not a minority ownership.
Argyle chairman Simon Hallett has made it clear over recent years he was seeking extra investment into the club from other sources to help push the Pilgrims forward.
Back in 2022, a US group of investors under the title Argyle Green bought a 20 per cent stake of the club for £4 million, but by the following July some of the leading figures, including director Michael Mincberg, had their shares bought back by Hallett.
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Last December, at a Plymouth Argyle Cornish Supporters' Association event, Hallett revealed talks with a prospective new investor had been taking place since the end of the 2023/234 season and added he was 'on the verge of being able to come public with something'.
That did not happen, though, and Hallett confirmed in a recent Chairman's Chat column on the official club website that it had fallen through. "Unfortunately, negotiations have taken too long and the key information that both we and the EFL required to complete the deal has not been forthcoming. I no longer believe that news of the new investor is imminent," he said.
Now, less than three weeks later, takeover talk is on the agenda and it will be fascinating to see where it leads, if anywhere. It has certainly excited a lot of the fanbase based on their social media reactions.
Hallett has been looking to find new investors while also wanting to retain a majority control of Argyle with the aim of making sure he is confident whoever comes after him will be fit and responsible custodians of the club.
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It also perhaps explains why it has not been easy to reach a deal which would involve a substantial amount of money being put into Argyle by investors who would ultimately not have the final say on club issues.
This latest 'Bale-fronted' bid is different in that respect. It is out in the public that it is for 'full control' which could if it was eventually agreed to end the Argyle stewardship of Hallett, which first began in 2018 when he became the majority shareholder and chairman.
Argyle have seen from their recent experience of struggle in the Championship over the last two seasons, which culminated in their relegation last term, that it will take considerable additional investment for them to try to be properly competitive at that level in the future.
However, there are plenty of clubs who have been bought by new owners full of promises which have not been delivered and then been left in dire straits. Many Argyle supporters will still remember the club's time in administration in 2011 when it almost went out of existence, and also the long-lasting damage it caused.
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So while excitement and intrigue about the latest takeover talk among the Green Army is entirely understandable, it is crucial that the best interests of Argyle are served by any deal which is struck, whether it involves star names or not.
You can read more of our Argyle stories from Plymouth Live by clicking HERE
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