"Quite simply we have no money in the pot for the start of the new football season this Saturday and we have to pay wages at the end of the month," explained joint administrator Brendan Guilfoyle.
"We have written to Bishop International Limited asking them to come up with additional funds because they have been unable to complete the purchase of the club before the start of the new season this Saturday. Without this requested funding the administrators will have difficult decisions to make about the options they have left.
"We have to be realistic about the deals being put together to find the funds to buy football clubs. Multi millionaires with open cheque books prepared to pay for a loss making business are a dying breed. Administrators of any company have a duty and obligation to get the best possible outcome for creditors -- in this case, that includes staff and players. If Bishop International Limited is unable to complete the deal we will, of course, look at all other viable options, subject to them being able to provide immediate funding."
Guilfoyle praised Plymouth Argyle staff and fans, who have already bought 2,845 season tickets for the 2011/12 football season - money that is held in a separate trust fund and which will be released only on a game by game basis. "Both staff and fans have been magnificent in their support. It's a reflection of fans' passion for the club that 2,000 turned out for a friendly against Truro last week