Thanks for the notes.

The two pertient questions that don't seem to have bene asked are

1. Why was the exclusivity deal not ended when the PB failed to meet their contracted financial contributions?

2. Why was there no deposit required on the SPA when the club is clearly short of cash to pay salaries?

If there had been a £1m deposit on the SPA, or even just the misisng £700k, which after all is less than 20% of the purchase price, then a large chunk of backpay could have been made.

Interesting also to for the first time see Mr Lenszner officially recorded as being a GT. Interesting.

So it is going to be 4 - 6 weeks to complete the Sale and Purchase Agreement. There would appear to be two apparent reasons for this. Firstly, Bishop International Ltd, do not have the financial means to conclude the agreement at the moment and secondly time is needed to ensure David Hinchcliff can present the best possible case that the Sale and Purchase Agreement arrangements are fully in accordance with the League's Rules and Regulations.

Clearly, the latter cannot be achieved until the funding is secured to underpin and present a viable business plan which may, it is understood, include a payment or the underwriting of first year losses of between £1m and £2m.

The Hinchcliff inspired slick conversion of an exclusivity agreement into a Sale and Purchase Agreement effectively locking out other alternatives for at least a month gives Heaney and Ridsdale time to secure the funding from somewhere. Until that is secured (if it ever is) there is no prospect of getting any hint of Football Laegue approval and an orderly exit from administration.

In the meantime we all have to muddle on for the next 4-6 weeks. There will, no doubt be income from player sales such as Mason and Nelson. There will also be some additional income from gate receipts of the pre-season friendly matches which hopefully will go direct to the staff at least. In the absence of a completed sale this should get us through to the start of the season.

In my view the next 4-6 weeks should be used productively to consider and prepare a proper and viable Plan B if the sale is not completed. James Brent has always indicated his willingness to commit to what would then amount to a rescue rather than a bid. I also believe that "in extremis" the City Council will not wish to preside over the demise of PAFC and what would amount to the biggest ever Football League failure. They would have a vital and responsible role to play. A reduced offer to Lombard (and a call on the previous Director's guarantees) will provide more money to cover the Football Creditor Debt.

Finally, the supporters, preferably through the Trust and safe in the knowledge that the club would be in benevolent ownership and possibly a publicly accountable landlord should be prepared to commit more formally to the club. This could be done by a share issue and ownership and perhaps more importantly an immediate commitment to the purchase of a season ticket based on an assurance that the staff at least would be fully paid as a result.

If the preparatory work for a Plan B is not commenced now to 'hit the ground running' then by mid-August it might be too late.

As ever, I can't disagree with your logic - I think the worst part of all this mess is the way it's been 'engineered' to take us to the brink!!

That in it's self is poor but please just remember, the people who are taking us there have no emotional attachment to the club and will write off the £300k they've paid as a punt, if they have to walk!!

I will say this again - no fan created this problem, that lies at the feet of 7+3+?!!

Good luck to all Argyle fans - pray if you fancy!!

Thanks for the notes.

The two pertient questions that don't seem to have bene asked are

1. Why was the exclusivity deal not ended when the PB failed to meet their contracted financial contributions?

2. Why was there no deposit required on the SPA when the club is clearly short of cash to pay salaries?

If there had been a £1m deposit on the SPA, or even just the misisng £700k, which after all is less than 20% of the purchase price, then a large chunk of backpay could have been made.

Interesting also to for the first time see Mr Lenszner officially recorded as being a GT. Interesting.

I've queried the same things. I think it can only be because if this deal doesn't go through BG's professional reputation will be shot. he HAS to get this particular deal through somehow and that requires the removal of all possible barriers to Heaney being able to go ahead with things. Heaney doesn't seem to have any money (yet) so that means he couldn't pay the exclusivity payments and he can't pay, or afford to possibly lose, a deposit. I think it's going to get worse before it gets better.

Discussing 3 new players having to sign deferment.

Well that is totally stupid. The club certainly shouldn't be allowed to go forwards on this basis. It's just wrong. Added to which I can't imagine why a player would sign for us on that basis at this stage in the summer without having spent longer exploring other options.

Thanks for the notes.

The two pertient questions that don't seem to have bene asked are

1. Why was the exclusivity deal not ended when the PB failed to meet their contracted financial contributions?

2. Why was there no deposit required on the SPA when the club is clearly short of cash to pay salaries?

If there had been a £1m deposit on the SPA, or even just the misisng £700k, which after all is less than 20% of the purchase price, then a large chunk of backpay could have been made.

Interesting also to for the first time see Mr Lenszner officially recorded as being a GT. Interesting.

There is a simple answer to both questions in a deal master minded by the sharp suited Mr. Honchcliff.

1. The slick move from an exclusivity agreement to a SAP was a conniving way of preserving the position of Heaney and Plymouth Argyle F.C. (125) Ltd without actually paying any more money for that position.

2. The extended and uncertain period of 4-6 weeks allows Heaney and Ridsdale to scrabble around to find backers (now Heaney's main backer has folded his hand in) whilst in the process locking out other interest.

Once or if backers have been found then Hinchcliff has to work his proven magic to convince the Football League that this connivance of a solution actually does meet League rules.

In the meantime, players will be sold and the high earners will be off loaded to improve the viability of Heaney's position in a vain attempt to get the deal done. That is why the preparation of a 'ready to go' Plan B is a must in my view.

[monkeywrench]

Discussing 3 new players having to sign deferment.

Well that is totally stupid. The club certainly shouldn't be allowed to go forwards on this basis. It's just wrong. Added to which I can't imagine why a player would sign for us on that basis at this stage in the summer without having spent longer exploring other options.

I concur. What an utterly ridiculous situation.

One of the most worrying things is that it sounds like we desperately need to sell 5,500 season tickets to just make the losses that are forecast for the season.

If you look a previous attendance figures at this level the majority were under 5,000 including season ticket holders. I would think that we sold around 3,000 season tickets at most in our previous seasons in the bottom division.

I would be very surprised if we even reached 3,000 under the present circumstances on the field let alone off it.

If all the money from the PBs has been used up before the end of the season what then? We will still be making a loss with no way of funding it.

Crowds do not turn up in numbers unless the club is doing well and impassioned pleas to turn up if you want the club to progress have been tried before and failed.

Hopefully they will set a realistic budget which we have to live within and an average attendance of 5,000 has got to be the most we can hope or budget for.

Nobody seems remotely concerned about what I post but the PB wants PAFC out of business and they will blame the fans for failing to support the new venture.

Then they will develop the larger footprint because PCC cannot realistically find another user for the stadium so will relent on the convenants and grant PP.

I have warned you many times - and I have my sources - but now time is critical.

This whole charade has been played for months out so

A) the PB does not pay the football creditors in full or promptly

B) the Football League has no opportunity to scupper the deal because the season will have started.

Ever fan should write to the FL to express their opposition. You may not end up with another bidder, at this late stage, but you may end up with enough enthusiasm and determination to start again, for you will likely be doing that anyway after Heaney has played out his plan.

So how does Reid put together a squad when all he can offer potential players is a 'wage deferral', and existing squad members are being sold to pay for ongoing costs? We have less than 11 senior pro's at the moment. If we reach the start of the season without the deal going through and payment being made (which seems to be what PR and BG think is going to happen) how on earth can we fulfill our first fixture without enough players to fill an 18 man squad?

Did anyone in the meeting actually ask Ridsdale and Gullifoyle why there is a 4-6 weeks delay? If not I think that's the first thing that should be asked - it would be interesting to see what 'reason' they provide.

One of the most worrying things is that it sounds like we desperately need to sell 5,500 season tickets to just make the losses that are forecast for the season.

If you look a previous attendance figures at this level the majority were under 5,000 including season ticket holders. I would think that we sold around 3,000 season tickets at most in our previous seasons in the bottom division.

I would be very surprised if we even reached 3,000 under the present circumstances on the field let alone off it.

If all the money from the PBs has been used up before the end of the season what then? We will still be making a loss with no way of funding it.

Crowds do not turn up in numbers unless the club is doing well and impassioned pleas to turn up if you want the club to progress have been tried before and failed.

Hopefully they will set a realistic budget which we have to live within and an average attendance of 5,000 has got to be the most we can hope or budget for.

Nobody seems remotely concerned about what I post but the PB wants PAFC out of business and they will blame the fans for failing to support the new venture.

Then they will develop the larger footprint because PCC cannot realistically find another user for the stadium so will relent on the convenants and grant PP.

I have warned you many times - and I have my sources - but now time is critical.

This whole charade has been played for months out so

A) the PB does not pay the football creditors in full or promptly

B) the Football League has no opportunity to scupper the deal because the season will have started.

Ever fan should write to the FL to express their opposition. You may not end up with another bidder, at this late stage, but you may end up with enough enthusiasm and determination to start again, for you will likely be doing that anyway after Heaney has played out his plan.

Oh, and I think Mr Clark is right; Heaney is struggling to maintain the support of all his expected funding partners.

My guess is that some of them were more prepared to be supportive prior to the 'outing' of Heaney.

Heaney cannot find any funding from traditional sources; his track record is appalling and no sane institution will lend him a penny. Quite why anybody else would want to fund him is also hard to imagine but he will be trying.

Sadly, his story is more compelling if PAFC doesn't exist because that increases the probable size of the permitted development.

Oh, and Heaney's Truro ambitions would be helped if PAFC didn't exist.

How on earth can a businessman who might win a vote (comfortably) on being the more despised chancer in Cornwall get the club into this position?

And why did BG allow it to happen?

For that, you probably need to ask PR. Favours are likely being returned.

Thanks for the notes and well done for getting some passion into proceedings.
As expected, there are a couple of good soundbites from the top table about rent and possible diversion of money from friendly matches. However, my sixth sense still tells me that this is a thin coat of gloss to smooth the transition as we enter the ST purchase phase.
Personally, I have decided not to renew mine, which pains me more than you will ever know, but that is MY individual stand.
The emotional pressure on supporters now is massive, and I take no issue with those that do renew ... in some strange way, I envy them. This whole process has been engineered and I find that difficult to take. The staff and supporters are now just pawns in a bigger game with rules being bent to suit the main players.
I agree with Graham about plan B and timing. The more time that elapses, the less prepared we will be if this deal fails to complete. I have no idea how to start the process, or who should lead it (the trust?). Many will say that it's too late, but as long as there are people who care about the club and it's values, then it will never be too late.
Maybe I should just accept defeat and fall back on 'Argyle World' commentary for the home games and continue to go to away matches. Whatever the outcome, I just hope that the united family of Argyle that surfaced at the end of last season is not undermined by people who have no emotional attachment to the club.

Just 2 quick questions for clarity.

The Herald reporter - did they ask question or merely scribe?

Are they (Herald) running the story of the meeting? Not seen on-line this morning.

I think we are going to fold . I can't see us making the first game of the season . I don't believe the money is there . If it was it would be on the table now .

I can imagine complete panic behind the scenes at Home Park .

Very very worried .

I am inclined to agree with you sadly.

I think we are going to fold . I can't see us making the first game of the season . I don't believe the money is there . If it was it would be on the table now .

I can imagine complete panic behind the scenes at Home Park .

Very very worried .

I am inclined to agree with you sadly.

Seems more likely every day.

Out of words to describe all this now.