" RIDSDALE SAVES ANOTHER CLUB lol "
Tue Feb 22, 2011 11:35 am
RIDSDALE WHERE WERE HIS FAMOUS AMERICAN BACKERS TO SAVE PLYMOUTH ? REM HE PROMISED CARDIFF THEM lol
Points deduction is a massive blow - Peter Reid
Plymouth Argyle have been deducted 10 points with immediate effect after they issued a notice of intention to appoint an administrator.
The notice is classed as an 'insolvency event' which breaks Football League sanctions and commands the automatic 10-point penalty.
The League One strugglers have been the subject of three winding-up petitions from HM Revenue & Customs this season.
It leaves Argyle bottom of League One, 10 points from safety.
A statement on the club website said: "The directors of Plymouth Argyle Football Club have today issued a Notice of Intention to appoint Brendan Guilfoyle, Christopher White and John Russell of The P&A Partnership as administrators.
"This action gives the club protection from insolvency action from creditors.
"This does not mean that the club is in administration today nor does it assume that it will necessarily enter into administration at a future date."
Former Leeds chairman Peter Ridsdale, who has been advising Plymouth's board since December 2010, has previously told the BBC that £2m is needed to ensure the club survives until the end of the season.
With his side now facing an uphill battle against relegation, Argyle manager Peter Reid told BBC Spotlight: "From a football point of view it's a massive blow to the club.
"You've just got to get on with it. It's going to make it really difficult but we've just got try and start the fight back against Brighton.
"Hopefully the board of directors can sort out the financial problems and hopefully this is the lowest ebb and we can start rising from this situation."
Problems for Argyle first surfaced when they were placed under a transfer embargo by the Football League at the end of 2009 because of then-unpaid debts to HMRC.
Subsequent relegation from the Championship last season then cut Argyle's income by around £3m, and in November details emerged of two winding-up petitions from HMRC over further unpaid tax debts of £760,000.
The club then sold several of their star players in January, including Craig Noone and Bradley Wright-Phillips , in an effort to clear the petition debt.
Tax remains a major problem for the Devon club with their next bill, estimated at £300,000, due on Tuesday.
However, by issuing the 'notice of intention' the club is protected from its creditors, meaning that failure to pay HMRC by the deadline will not lead to the presentation of a compulsory winding-up petition.
Meanwhile, Plymouth's players are still awaiting their January wages , having been paid late in both November and December.
Points deduction is a massive blow - Peter Reid
Plymouth Argyle have been deducted 10 points with immediate effect after they issued a notice of intention to appoint an administrator.
The notice is classed as an 'insolvency event' which breaks Football League sanctions and commands the automatic 10-point penalty.
The League One strugglers have been the subject of three winding-up petitions from HM Revenue & Customs this season.
It leaves Argyle bottom of League One, 10 points from safety.
A statement on the club website said: "The directors of Plymouth Argyle Football Club have today issued a Notice of Intention to appoint Brendan Guilfoyle, Christopher White and John Russell of The P&A Partnership as administrators.
"This action gives the club protection from insolvency action from creditors.
"This does not mean that the club is in administration today nor does it assume that it will necessarily enter into administration at a future date."
Former Leeds chairman Peter Ridsdale, who has been advising Plymouth's board since December 2010, has previously told the BBC that £2m is needed to ensure the club survives until the end of the season.
With his side now facing an uphill battle against relegation, Argyle manager Peter Reid told BBC Spotlight: "From a football point of view it's a massive blow to the club.
"You've just got to get on with it. It's going to make it really difficult but we've just got try and start the fight back against Brighton.
"Hopefully the board of directors can sort out the financial problems and hopefully this is the lowest ebb and we can start rising from this situation."
Problems for Argyle first surfaced when they were placed under a transfer embargo by the Football League at the end of 2009 because of then-unpaid debts to HMRC.
Subsequent relegation from the Championship last season then cut Argyle's income by around £3m, and in November details emerged of two winding-up petitions from HMRC over further unpaid tax debts of £760,000.
The club then sold several of their star players in January, including Craig Noone and Bradley Wright-Phillips , in an effort to clear the petition debt.
Tax remains a major problem for the Devon club with their next bill, estimated at £300,000, due on Tuesday.
However, by issuing the 'notice of intention' the club is protected from its creditors, meaning that failure to pay HMRC by the deadline will not lead to the presentation of a compulsory winding-up petition.
Meanwhile, Plymouth's players are still awaiting their January wages , having been paid late in both November and December.
Re: " RIDSDALE SAVES ANOTHER CLUB lol "
Tue Feb 22, 2011 12:49 pm
barnsley cardiff plymouth were in the shit long before he went to these clubs.
the problem is he's not a fancial trouble shooer he ends up making things worse.
the problem is he's not a fancial trouble shooer he ends up making things worse.
Re: " RIDSDALE SAVES ANOTHER CLUB lol "
Tue Feb 22, 2011 1:08 pm
Oh the famous american backers again didnt work supprised he didnt ring good old ben steele(to-bit sub contractor) for a free weekend out in the town on the club 
Re: " RIDSDALE SAVES ANOTHER CLUB lol "
Tue Feb 22, 2011 1:33 pm
I had I to laugh when laugh when I saw 'lol' at the end of that title. 
I feel sorry for Plymouth to be honest. Even though they've never given us an exciting game ever I have some family down there and really like the area. I wish them all the best but unfortunately, I can see them being down there for a while now.