Search for investors is slow for Hallett
PROGRESS on finding a new investor for Plymouth Argyle has been slower than chairman Simon Hallett had hoped but he has confirmed there are at least two possible options.
Hallett increased his ownership of the club to 87 per cent last summer after agreeing to buy 3.3 million shares from some outgoing investors of Argyle Green LLC. He later made it clear that for the Pilgrims to try to achieve their mission of becoming a top six Championship club with Premier League aspirations by 2028 extra financial support was going to be needed.
The United States-based businessman would like to carry on as Argyle’s majority shareholder and chairman as long as he can but would welcome a new investor to fund not only the first team budget but infrastructure projects too.
Hallett said: “We have got a few irons in the fire, progress has been more slow than we had hoped so nothing has been done yet. We had hopes something would be done several months before this, but we have got a few things that I obviously can’t disclose directly.
“We have got at least two I know about that are possibles, one of which is quite a strong possibility, and there is a couple more I’m going to get briefed about today (Tuesday).”
Hallett continued: “I would like to get something done by Christmas - last Christmas! We were obviously restricted in what we could do in the transfer window in January, and we will be restricted in the transfer window this summer unless we can get somebody in.
“So if we are to achieve the goal of getting a new investor who is going to help fund not just the infrastructure but a bit more money into the squad then that’s going to have to be by the transfer window.
“If we can’t we are going to be competing at the bottom half of the Championship like we have been this season.”