Latest news with #SimonHallett
BBC News
3 days ago
- Business
- BBC News
New investment in Argyle has fallen through
Plymouth Argyle chairman Simon Hallett says proposed new investment in the club has fallen who first invested in the Pilgrims in 2016 and became majority shareholder two years later, had agreed in principle to sell a stake in the club to new in a statement following confirmation that head coach Miron Muslic has joined German side Schalke, Hallett says the deal is comes a month after Argyle were relegated from the Championship, having finished 23rd in the second tier."We have been in talks with a prospective new investor in our club for over a year - those talks led to an application for approval of that investment being lodged with the EFL in February," he said."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." Hallett says he and the club's existing shareholders - Argyle Green and the Holliday family - will match the level of funding they had planned with the new investor for this season, a level he says is twice the budget the club had when they won League One in Hallett's ownership, Argyle have redeveloped the Mayflower Grandstand and are helping to fund new academy facilities at what was the also bought land adjacent to Home Park to improve the first team's training facilities."I completely understand that this will be very frustrating for fans, as it is extremely frustrating for me and the rest of the Argyle board," he added."I have said constantly that my resources can enable us to be a sustainable Championship club, but that if we wish to aspire beyond that we would need new investment. I can provide some of that new investment, with the Holliday family's and Argyle Green's help, but not all."While progress towards a transaction in its current form looks to have stalled, we will continue to explore alternative routes, including being open to revised terms with other investment groups."It is important we get the right investor, not the quickest investor, and this may take some time. We are committed to this, but in the meantime, current shareholders can (and will) support the club through its next stage of development."
BBC News
28-03-2025
- Business
- BBC News
Plymouth owner Hallett agrees to sell stake in club
Plymouth Argyle owner Simon Hallett says he has agreed in principle to sell a stake in the club to new investors. No details of who will be investing have been revealed, how much they will invest or what size of stake they will has been Argyle's majority shareholder since 2018 and made it is his mission to turn the Pilgrims into a sustainable Championship side."We have now reached agreement in principle with a group that will invest in Argyle, and we are in the final stages of due diligence and regulatory approval," he said in a statement."If completed as expected, this transaction will inject new capital into the club in several phases. "The first phase will involve issuing new equity, diluting my stake and those of other shareholders. "Subsequent funds will be available through sponsorship deals and convertible loans, drawn at the club's discretion. "These loans will have favourable interest rates and will eventually convert to equity, allowing the new investors to take a majority ownership position." It is the first major investment in the club since a United States-based group formed Argyle Green LLC and paid £4m for a 20% stake in the club in August a number of the investors sold their stakes back to Hallett, who went on to control 87% of the club at the time. Hallett has been keen to invest in Argyle's infrastructure as well as the team on the field.A new training centre for the club's academy is being built at Brickfields while he has also invested in first-team training facilities and helped fund the rebuilding of the Mayflower Stand. Argyle won promotion back to the Championship in 2023 after being crowned League One champions and secured their survival in the second tier on the final day of last this season they struggled under head coach Wayne Rooney, who was appointed in the former England captain left on 31 December and was replaced by Austrian Miron Argyle got a famous FA Cup win over Premier League leaders Liverpool and had a good spell of results in January and February, they have struggled in the past month and are are bottom of the Championship, six points from safety. Hallett says the new investors are committed to the club, even if they are relegated back to League One. "Securing new investment has taken longer than we hoped because we have been careful in selecting investors who share our vision for Argyle as a financially sustainable, community-focused club striving for success on the pitch," added Hallett."Despite the increased risk of relegation, our new investors remain committed and the agreements in place will not be affected by a potential drop to League One. "While awaiting this investment, Argyle Green and I will continue to provide financial support for both squad improvements and infrastructure projects."Should Argyle go down this season, Hallett said they will have a budget that would be bigger than the one which saw them win League One with a club-record haul of 101 points."Our success off the pitch has enabled us to diversify and grow revenues to record levels," he said. "Should we be relegated, returns on our investments position us well to remain financially strong in League One with the ability to fund a highly competitive first-team squad."A League One budget would be considerably in excess of that with which we were promoted in 2023."
BBC News
11-02-2025
- Business
- BBC News
Man City tie 'worth up to £1m' to Plymouth Argyle
Plymouth Argyle chairman Simon Hallett says their FA Cup fifth-round tie at Manchester City could be worth up to £1m to the Championship Pilgrims booked their place in the last 16 by stunning Premier League leaders 1-0 on Sunday - a win Hallett described as one of the best ever at Home trip to Etihad Stadium next month to take on the Premier League champions will be Argyle's third against top-flight opposition, having won 1-0 at Brentford in January's third round. "We've yet to work out the exact figures, but I am going to say it's going to be somewhere between £600,000 and £1m to Argyle," Hallett told BBC Radio Devon. "When we played Liverpool eight years ago Anfield had a capacity of just over 50,000 - we made about £700,000."So I think we should do a little bit better this time. The Etihad I believe has a capacity of about 62,000, so we think it should be somewhere between £600,000 and £1m."It won't mean as much as it did when we played Liverpool, though."When we played Liverpool eight years ago that £700,000 represented about a third of our football budget, but today our football budget is many multiples of what it was then, so it won't be as significant."Much more important than the money - and the money will be nice - is that it's going to be a great day out for at least 15,000 of our fans." But it is a day out Hallett may not be able to make. The Plymouth-born businessman is based in the United States and has a holiday in Argentina booked during the fifth round. If he does cancel it, it will not be for the first time."When it [the draw] did come out as Manchester City, which was the one I was hoping for, I yelled in anguish," he said. "I'm actually booked to go on a fishing trip to Argentina leaving on 27 February, so we'll see what is going to happen."I've already cancelled it once because of the manager hire in January, so I'm not quite sure - it'll cost me a fortune to do so again."And while it may well be that his fishing trip will have to be postponed again, Hallett says this season's cup run has put his club - who are close to adding extra investment - in front of a worldwide audience. "We're looking to develop a global fanbase and if we can be in the spotlight against Liverpool and then against Manchester City, as well as let's not forget against Brentford," he said."One of the commentators doing the draw said that there was a chance for a second giant-killing - let's not forget that we knocked out Brentford who are hardly minnows these days."
Yahoo
10-02-2025
- Sport
- Yahoo
Greatest win in Argyle's history? Have your say
No, you weren't dreaming - it really did happen! Plymouth Argyle beat Liverpool in the FA Cup. The Premier League leaders, the Champions League group stage toppers, the six-time European champions, the 19-time champions of England... humbled at Home Park. Plymouth Argyle chairman Simon Hallett says it is "probably the best ever win at Home Park" in the club's history. Miron Muslic says it is the greatest win his managerial career. Goalscorer Ryan Hardie says "it's one that will live with me forever". But where does it rank in your greatest Argyle moments? If there is a bigger or more important win, what was it? Let us know your thoughts here.
BBC News
10-02-2025
- Sport
- BBC News
Greatest win in Argyle's history? Have your say
No, you weren't dreaming - it really did happen! Plymouth Argyle beat Liverpool in the FA Cup. The Premier League leaders, the Champions League group stage toppers, the six-time European champions, the 19-time champions of England... humbled at Home Park. Plymouth Argyle chairman Simon Hallett says it is "probably the best ever win at Home Park" in the club's history. Miron Muslic says it is the greatest win his managerial Ryan Hardie says "it's one that will live with me forever".But where does it rank in your greatest Argyle moments? If there is a bigger or more important win, what was it? Let us know your thoughts here.
