Plymouth Argyle's future has been secured after administrators sanctioned the sale of the club.
Administrators sanction sale of financially-crippled South Coast club
Plymouth Argyle's future has been secured after administrators sanctioned the sale of the club.
A consortium fronted by Truro City owner Kevin Heaney will now complete their proposed purchase, staving off the threat of liquidation.
The Pilgrims entered administration in March, before suffering relegation out of League One.
They have struggled to keep on top of costs, with wages being deferred, but the future of the club is now looking a lot healthier.
Funding
A statement on the League Two club's
official website read: "The joint administrators are satisfied that Bishop International Limited has secured the necessary funding and everything is agreed between the numerous parties.
"Solicitors are now working to finalise the documentation and complete the sale to Bishop International Limited / Plymouth Argyle (125) Limited."
Administrator Brendan Guilfoyle said: "This has been a complex deal involving a dozen stakeholders. I am very grateful for the assistance I have received from everyone involved in the sale.
"I can now look forward to the new club obtaining the share from the Football League and retaining their status as a Football League member club."
