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Pilgrims get loan from supporters trust

Plymouth Argyle Football Club has been helped in its financial struggle by a supporters group which has agreed a short-term mortgage with the npower League One side.

The loan from Plymouth Argyle Supporters Training and Development Trust will allow the club to make a tax payment to Her Majesty’s Revenue and Customs on Wednesday.  The Pilgrims also revealed Peter Ridsdale is set to leave the club following a breakdown in negotiations to bring investment into the club from Japanese shareholders.

A statement from the trust read: "Plymouth Argyle Supporters Training and Development Trust is pleased to announce that, following an opportunity to invest in Home Park Stadium, the trust has agreed to provide a short-term mortgage secured on Home Park Stadium.

"The trustees are pleased to have been able to agree a package which will benefit both parties."

Ridsdale, former chairman at Leeds United and Cardiff City, said he would continue to ‘advise from a distance with potential investors’ but was concerned that ‘time is not on Argyle's side’.

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