Plymouth Argyle deducted 10 points by football league

ARGYLE deputy chairman Paul Stapleton released the following statement at 1.45pm on Monday, February 21, 2011:

The Directors of Plymouth Argyle Football Club have today issued a 'Notice of Intention' to appoint an administrator as they continue to seek a solution to the Company's current cash flow problems.

This action gives the Club protection from Insolvency Action from Creditors, whilst at the same time allowing the Directors the opportunity to turn current expressions of interest into a permanent and lasting solution for the Club

This action 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. Further steps will depend upon the outcome of current discussions with potential investors.

Under current Football League rules and despite the fact that the action taken is not administration, Plymouth Argyle Football Club will be subject to a ten-point penalty under the League's Sporting Sanctions rule.

To allow the best options for the way forward to be independently assessed, David Hinchliffe from Walker Morris Solicitors has been appointed to work with Peter Ridsdale who will for the time being continue to act as an Independent Advisor to The Board.

PETER Reid admitted it was a "hammer blow" to be hit by a ten-point penalty by the Football League, but vowed to fight on as Argyle boss.

Speaking ahead of Argyle's midweek trip to League One leaders Brighton, Reid refused to give up in the fight against relegation.

Reid said: "It stretches everybody. It's a difficult time for everyone concerned and this is just another hammer blow, but there's only one way to overcome that which is on the football pitch for us as a team, as players and the manager and that's what we'll be looking to do.

"It's the rules laid down by the league and we've got to get on with it, it's just how we react to it. We've all got to pull even closer together and have a siege mentality. It's difficult but we've just got to go to Brighton and the only thing we can do as a football team and a club is try and get a result there. There's worse off people out there than us so we've just got to fight on.

"The supporters have been brilliant, I just feel sorry for them but I reiterate that we just have to fight and get as many points as we can. From a footballing point of view, it's a massive blow to everyone - players, supporters and myself.

"I think the players are more concerned about the run of defeats we've had, which isn't good enough and like I've said on many occasions, that's the thing we can effect even though it's going to be a really difficult game at Brighton. The players are being as professional as they can and focusing on trying to get a result against Brighton after some disappointing results."

Reid called on the Green Army to help Argyle through what we hope will be the club's lowest point for the foreseeable future.

He said: "The most important thing is to safeguard this football club because it is a fantastic football club, and then if in anyway possible, to get the embargo lifted and get some new players in to help us fight even with these ten points.

"First and foremost, this football club has got to keep going. I think there's too many people with a love for Argyle, hopefully the directors can sort out the financial problems and hopefully this is the lowest ebb and we can start rising from the situation.

"I'll stay as long as the board of directors want me. When you look at some of the stories of the Argyle fans - the young schoolboy giving his last 53 pence when that's all he's got. I'm in a job, it's a difficult one, but perversely I'm enjoying it and I want to see it through."