What I find difficult to comprehend is the description of a 'short term loan'.
This would imply there is the certainty of identifiable monies coming along to repay that loan in a short time. It begs the question from where?

Precisely. And those monies must surely be guaranteed by the majority of the board. The trustees can't be taking a 'punt'.

So The Trustees maust have been given priviledged information of outside investment with cast iron guarantees . IF it is so set in stone that money is coming in - why aren't the rest of the fanbase being told . It would be fantastic news surely .

And therein lies the conundrum.

So let's get this straight.

A charity with a very specific published mission loans virtually all its cash to a commercial business recently described in public by a leading councillor as a "basket case", with little prospect of ever getting its money back.

One of the charity's trustees is also a shareholder in the failing business.

Interesting, to say the least.

What I find difficult to comprehend is the description of a 'short term loan'.
This would imply there is the certainty of identifiable monies coming along to repay that loan in a short time. It begs the question from where?

Precisely. And those monies must surely be guaranteed by the majority of the board. The trustees can't be taking a 'punt'.

So The Trustees maust have been given priviledged information of outside investment with cast iron guarantees . IF it is so set in stone that money is coming in - why aren't the rest of the fanbase being told . It would be fantastic news surely .

They would want to keep quiet any cash coming into the club as there are a fair few out there with claims to that cash who will beat a path to their door given a whiff of money coming in.

I wonder just how deeply our local media will dig into exactly how this deal came about, and how it ties in with the published aims of the T&DT?

You won't have too long to wait.

About time the local press did some investigating rather than vanilla reporting.

Like others, I paid not insignificant amounts into the youth trust to help with improving facilities etc for young footballers in the region. Not to help bail out Toady and his mates. I'm not happy. Would love to see evidence of due diligence on this one.

Is Ken Jones the vice chairman of the trustees, he is also an associate director of the football club and a good mate of Stapleton who is also a trustee, 2 powerful men to push this through.

If administration is indeed an inevitability, I wonder whether the money would have been better used towards the administrators fee i.e. ensuring we can actually go into administration? Probably impossible with them being a charity I guess. Good on them for doing something.

Administration is only inevitable if the boardroom stops funding/underwriting the club in the short to medium term.

It is simply inconceivable to me now that the directors would have borrowed this charity money if they intended to place the club into voluntary administration before the end of this season, at the very least.

Administration helps the club, not going into administration helps the shareholders, trust funds? help yourselves!!!

It stinks!

They are only prolonging the enevitable, using up trust funds for their selfish means. Its been glaringly obvious the big money from the property developers in Japan wouldn't come, when the real opportunity to make money died (WC). They have no plan b & certainly no idea how to run a football club.

Is there a duty of obligation (or somesuch) to declare the details of this dubious arse saving deal? That money could have far greater impact in maintaining our club than letting those ***** get their hands on it. a flippin disgrace!!

So let's get this straight.

A charity with a very specific published mission loans virtually all its cash to a commercial business recently described in public by a leading councillor as a "basket case", with little prospect of ever getting its money back.

One of the charity's trustees is also a shareholder in the failing business.

Interesting, to say the least.

Quite.

Administration is being talked about more and more as an inevitability. The T&DT then loans the club a significant sum of money which, in the event of administration, will almost certainly be lost. That money was raised from the sale of a building that was bought as a result of the donations of ordinary Argyle fans who gave their money in the belief that it was being used to support the Youth Development programme at Argyle. It was not meant to be used to prop up a failing Board who are too feckless, incompetent, immoral and dishonest to use any of their own money to correct the many errors they've made in running our club.

And quite, again.

A few people should be hanging their heads in shame.

Well, that £300k (or whatever it is) could instead have been used as a big piece of a plan to support the creation of an "Argyle FC" from the ashes of the old club if the worst happened.

For example creating an active youth policy for that new club, by training, mentoring and feeding youth players into the club, and thus using the money for its original stated purpose.

Well, that £300k (or whatever it is) could instead have been used as a big piece of a plan to support the creation of an "Argyle FC" from the ashes of the old club if the worst happened.

For example creating an active youth policy for that new club, by training, mentoring and feeding youth players into the club, and thus using the money for its original stated purpose.

They could argue that they're doing that now with Stephens, Young, Rickard etc. I think the papers could have a field day with this.

This whole saga gets more embarrassing by the day.





This is low.

[Argylegames]

The Plymouth Argyle Supporters Training and Development Trust have today issued the following Press Release through Ken Jones and will no doubt appear in the media tomorrow. This Trust was set up in 1995 to help fund the Argyle Youth Scheme. The Trust retained the proceeds from the sale of the Argyle Hostel.

The Press Release

"Plymouth Argyle Supporters Training and Development Trust is pleased to announce that following an opportunity to invest in Home Park Stadium
The Trust has agreed to provide a short term mortgage secured on Home Park Stadium.
These negotiations have been ongoing since the 1st of January and have now reached a satisfactory outcome.
The Trustees are pleased to have been able to agree a package which will benefit both parties.”

I wish to make it abundantly clear that the PAST & D Trust has absolutely nothing to do with the Argyle Fans Trust. Its aims and objectives are completely different and the decision made, as set out in the Press Release is one made entirely by the trustees of that Trust

Graham Clark Chairman Argyle Fans Trust

_________________

I really really really hope the trustees have had very very good legal advice about this, because if it goes titsup they are PERSONALLY liable for the money. It would have been better IMO to have kept the money to help start PAFC 2011's youth team.

I'm getting more and more concerned by peoples reaction on here - concerned because I fear that they may be right. I still cling to blenks' reading that this would not be happening without the trustees being in receipt of some information that makes this a suitable course of action. Surely the trustees know their responsibilities well enough to know that to do otherwise would be disastrous.

I'm getting more and more concerned by peoples reaction on here - concerned because I fear that they may be right. I still cling to blenks' reading that this would not be happening without the trustees being in receipt of some information that makes this a suitable course of action. Surely the trustees know their responsibilities well enough to know that to do otherwise would be disastrous.

Well hopefully one or more of them will put their head over the parapet and tell us. And bloody soon.