More investment from Simon Hallett

[gaspargomez]

we should be eternally grateful to Simon and Jane for their desire and willingness to properly fund this path to a genuine sustainable football club fully embedded within the community and region it serves.

Agreed.

 

[L G]

Does that mean the Grandstand ran into unbudgeted additional costs?

Credit to Simon Hallett, in this day and age of shysters in football we are incredibly lucky to have him at the helm.

From Jon Back's blog posted today: https://www.pafc.co.uk/news/2019/november/grandstand-blog/

In fact, one of the many things that happened over the past few months saw Simon and Jane (and the wider Board) quietly agree to a number of upgrades to the project which will be really noticeable when you are in there. At an additional cost of several hundreds of thousands of pounds, improved fixtures, fittings and finishes really lift the already great end result, and the addition of things like high-end resin floors throughout the grandstand will aid maintenance and longevity, as well as look fantastic.

Why quietly agree to a number of upgrades? :think:

 

[hometown5]

Anyone know the source of money? He had already injected large sum of money. Just because he is a sugar daddy?

 

[tonycholwell]

Whilst the investment is welcome, history tells us this isn't good news really.

The situation is made worse by the fact that all majority of the debt/loan is with one shareholder.

I pray the stand starts to generate the income anticipated.

I think this can genuinely be called investment as it is via a share issue. Therefore there is no debt or a loan, it is cash into Argyle.

Anyway, I digress, the AFT released this statement this afternoon regarding the actions by the owners.

https://www.argylefanstrust.com/2019/11 ... nvestment/

COYGs

 

[Biggs]

Personally I find the statement concerning in that cash is needed to ensure sufficient cash balances until the end of the current budgeting period.
This implies that expenditure is outstripping income despite attendances maintaining at last years levels.
For the future it strikes alarm bells should Argyle not get promoted as then attendances will drop causing a downturn in income.

Basically expenditure in this case is for the best TVs, bars, seating, floors... and possibly slightly less sexy drainage systems and swales... that money can buy.

It looks to be a completely one-off injection in order to provide the best possible fit-out at Home Park, and not an ongoing expenditure issue at all.

 

[IJN]

Anyway, I digress, the AFT released this statement this afternoon regarding the actions by the owners.

https://www.argylefanstrust.com/2019/11 ... nvestment/

COYGs

Always seems very pompous to me! In the days of Social Media etc, us Argyle fans can tell them what we think.

 

[LA Green]

I wonder if this now means that the refurbished Grandstand will have a full length of wheelchair accessible places in the not too distant future as per the original plans. :think: This as opposed to the strangely much smaller section currently available. Great investment again though from S&J.

 

[Green since 89]

Really good news for the club.

 

[Tugboat]

He’s putting some really solid foundations in for this clubs future.

We have a dream owner at our club, long may it continue.

 

[Forest of Dean Green]

Simon- thanks. I hope the good people of Plymouth and the region repay the faith, turn up in their droves to the games and use the hospitality suites in the way you hope, so you don’t have to keep putting your hand in your pocket. The club needs to be sustainable and if this is a ‘reset’ then that’s great. I’d worry though if we have to become an owner funded club just to pay the bills and much of that will be down to fans turning up, and people embracing these amazing facilities. Here’s hoping.

 

[HC Green]

What is slightly concerning is that every time Mr Hallett buys more shares neither of the other two shareholders buy any.
The questions in my mind is are they offered any and decline and then why is that or aren’t they offered the opportunity to buy and then why is that?

 

[Biggs]

Presumably not everyone has £1.5 million burning a hole in their back pocket.

 

[oldage]

A remarkable amount of money to invest in a division 2 club.
However successful businessmen and financiers in particular are shrewd people and the cynic in me thinks what is in it for the Halletts? They seem a genuine couple with the club at heart and Iong may it continue.

 

[davie nine]

I would never have thought that there was a cynic in you, Oldage.

 

[kernow19]

A remarkable amount of money to invest in a division 2 club.
However successful businessmen and financiers in particular are shrewd people and the cynic in me thinks what is in it for the Halletts?

After what they've put into this club I'd hope that if, in the fulness of time, they make a few bob out of their investment people would say it's a well-deserved return on their money.