Home Park: Positive news for the Pilgrims faithful
League Two rivals Plymouth Argyle, the club present Blues boss Paul Sturrrock took to the Championship, appointed the P&A Partnership as administrators back in March and have been in genuine danger of folding for several weeks.
However, it was confirmed on Friday that Bishop International Limited was close to finalising a deal which would save Argyle.
A statement on www.pafc.co.uk said: "The joint administrators of Plymouth Argyle Football Company Limited (in administration) are satisfied that Bishop International Limited has secured the necessary funding and everything is agreed between the numerous parties."
Administrator Brendan Guilfoyle added: "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."
However, the £6million deal still requires approval from the Football League before it can be completed.
However, it was confirmed on Friday that Bishop International Limited was close to finalising a deal which would save Argyle.
A statement on www.pafc.co.uk said: "The joint administrators of Plymouth Argyle Football Company Limited (in administration) are satisfied that Bishop International Limited has secured the necessary funding and everything is agreed between the numerous parties."
Administrator Brendan Guilfoyle added: "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."
However, the £6million deal still requires approval from the Football League before it can be completed.
There are still signs that all is not well in the Pilgrims world as 23-year old defender Stephane Zubar has turned his back on the club after requesting to terminate his contract, stating personal reasons.
Zubar had featured in every game for Argyle so far this season but has stated personal reasons as the motivation behind his decision.
Acting chairman Peter Risdale has expressed disappointment at the news but thanked the Frenchman for his contribution to the club.
He told Plymouth's official website: "I'm extremely disappointed that Stephane is unable to stay with us. Stephane will remain a friend of the club and leaves with our best wishes."
Zubar made 33 appearances for Plymouth after signing in July 2010.