Last-minute loan that kept Plymouth Argyle afloat is under investigation

The Government's charities watchdog says it will be contacting PAST&DT for further details over the deal.

A Charity Commission spokeswoman said:

"Concerns have been raised with the Charity Commission regarding the Plymouth Argyle Supporters Training and Development Trust.
We are currently considering these in order to determine what, if any, regulatory interest there may be for us."

Who's the snitch?

Who's the snitch?

Any number of the Youth Trust supporters I would have thought, maybe even the press.

And rightly so.

The line that says it all is:

"Mr Ellis said the deal was both a commercial opportunity for PAST&DT and a way of helping the Greens stave off the immediate threat of liquidation."

which implies that the trust when they voted were clearly aware of Argyle's potential to be wound-up if not immediately then in the near future.

How can such a loan be made by a charity to a club under threat of liquidation? What was the guarantee to protect the money?

Well, if the club does place itself into voluntary administration whilst the Charity Commission is simultaneously investigating the legality of the deal done days earlier I suspect the trustees could be in trouble.

It was because of the club borrowing this charity money from PAST&DT that i was persuaded that the directors just wouldn't/couldn't place the club in administartion anytime soon. And they must have convinced the trustees the same.

And I still hold to that.

Quote - "The Pilgrims' deputy chairman, Paul Stapleton, is also a trustee of PAST&DT, prompting some fans to question whether there was a conflict of interest.

He has declined to comment on the matter, but the charity's chairman, Jeff Ellis, strenuously defended the decision.

He said Mr Stapleton had addressed fellow trustees over the issue, but had not been involved in the vote"

Minutes of the Stapleton address would be very revealing I feel.

Quote - "The Pilgrims' deputy chairman, Paul Stapleton, is also a trustee of PAST&DT, prompting some fans to question whether there was a conflict of interest.

He has declined to comment on the matter, but the charity's chairman, Jeff Ellis, strenuously defended the decision.

He said Mr Stapleton had addressed fellow trustees over the issue, but had not been involved in the vote"Minutes of the Stapleton address would be very revealing I feel.

Stapleton using his vote may or may not have had any impact on the final result but it seems to me that his address to fellow trustees could have had a lot more influence.

Been discussing this online with a lawyer mate of mine and he's said (to me commenting that the Charity Commission is interested):

Doesn't surprise me ... and the bit about there not being a conflict of interest is a red herring - the trust will be governed by its objects (which according to the Charity Commission are "to provide and assist in the provision of facilities for recreation and other leisure time occupation for the benefit of young persons under 18 and resident in the counties of Cornwall, Devon, Somerset and Dorset and in particular to provide education and training in the skills and techniques in football so that due attention is given to the education and development of such young persons") and can only spend money in furtherance of those objects.

You could possibly try and run an argument that by keeping Plymouth afloat you're preserving a facility that benefits young persons in need of training in the skills and techniques of football, though I think that's stretching things a bit, but you've also got the issue that the trustees have a legal duty to act properly and in the best interests of the beneficiaries of the trust (the aforesaid young persons) and I can't see how loaning a company that's in financial difficulties £330,000 is acting properly. For a start, they'd have had to put conditions on what the money could be used for, but if they've lent the money to the club and the club don't own the ground, how can the club guarantee the provision of the facilities?

Very dodgy in my opinion.

[PL2 3DQ]

Everyday there is something.
PAFC the soap opera.

Everyday there is something.
PAFC the soap opera.

And it ain't over until Mrs Stapleton sings

I still can't get my head around it all. The board collectively have money. Lots of it.
The problem is they don't have the will to use it. I don't understand why there is a need to raid the charity collection boxes. This move looks to me like a way of them dodging their responsibility as directors of our club.

Many of them could bail out this mess they have made whenever they want to. They just won't. My question is why. I know I am being very naive. But how can we be expected to believe our club faces this crisis that is being played out when in fact the crisis is actually about the the lack of collective will in the boardroom. Shame on the lot of them

Last-minute loan that kept Plymouth Argyle afloat is under investigation

The Government's charities watchdog says it will be contacting PAST&DT for further details over the deal.

A Charity Commission spokeswoman said:

"Concerns have been raised with the Charity Commission regarding the Plymouth Argyle Supporters Training and Development Trust.
We are currently considering these in order to determine what, if any, regulatory interest there may be for us."

Tell the nosey sods to mind their own business. The club only has to fart and some people stick their nose in. The house that provided the original money was part of Argyle in the first place.

I still can't get my head around it all. The board collectively have money. Lots of it.
The problem is they don't have the will to use it. I don't understand why there is a need to raid the charity collection boxes. This move looks to me like a way of them dodging their responsibility as directors of our club.

There's a difference between having a net worth and being cash-rich. The likes of Kagami may well have assets and the like to the value of £million, but that doesn't mean he can go to the bank and withdraw £500,000.