BIL / PAFC (125) Limited deal to go ahead!

Peter Ridsdale has announced to the waiting world that the deal with Bishop International Limited will go ahead. It sounds like no money has been handed over as yet on deadline day; a statement reads “Bishop International Limited (BIL) 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.” The Football League (FL) has yet to ratify the decision which is not assured given Kevin Heaney owns Truro City and the FL doesn’t allow for anyone to be associated with two football clubs and Peter Ridsdale’s dubious history of football club ownership! I’m not convinced at all about the claim of funding to buy the club, I believe this is another delay tactic by BIL/Heaney, effectively locking out the contingency plan commitee spearheaded by James Brent who previously bid for the club back five months ago. I refuse to believe anything that anyone from PAFC (125) Limited says, they have been saying they had the £6m funding to complete the deal since July but nothing has materialised. They didn’t even come up with the full £1m required exclusivity payments to keep the club running, falling short by £700,000, which administrator Brendan Guilfoyle let slide. The administrator set deadline after deadline which seemingly meant nothing as Guilfoyle kept on extended deadlines time after time. I genuinely feel that liquidation is almost certain now unless BIL/Heaney can prove me wrong and complete the deal, but I won’t hold my breath! If the club is liquidated, I hope that Heaney, BIL and/or Ridsdale is not allowed to buy the assets of the club on the cheap as they were instrumental in the club’s path to liquidation, should it happen!

Check out this article by Mark on TwoHundredPercent, which explains the situation better!

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