The current shareholders of Argyle are contributing £11 million to the £21 million reconstruction of the Devonport site, which will include a new home for the women’s team and academy of the club.
Simon Hallett, the chairman and majority owner of Plymouth Argyle Football Club Limited, and Argyle Green, a US-based group of investors led by Nick Giannotti, have each been awarded more than five million new shares in the company.
It relates to the £11 million pledge from Hallett and Argyle Green for the £21 million refurbishment of the Brickfields site in Devonport, which will include additional sports facilities and a new community centre in addition to Argyle’s academy and women’s team.
First, there was a £7 million share rights issue in November 2023. Of the new shares, 80% were acquired by Hallett and the remaining shares were acquired by Argyle Green, for a split of £5.6 million to £1.4 million.
A fresh document that was uploaded to the Companies House website confirmed that 5,305,003 more shares, valued at 0.754005 apiece, had been assigned to Plymouth Argyle Football Club Limited.
This is in addition to the £4 million that was added to the previous share rights issue, for a total of £11 million. The plans for Brickfields were approved last month by Plymouth city planners.
With the goal of finishing the new facilities by September 2025, the site’s preparations are scheduled to start in May. For the ambitious project, Argyle, Devonport Community Leisure Ltd., Plymouth City Council, Plymouth Albion RFC, and the Argyle Community Trust—the club’s official charity—have joined forces.
New grass and all-weather 3G pitches, athletic facilities for the City of Plymouth Athletics Club and other users, play zones reserved for public use, improved public access, landscaped public areas, and parking are just a few of the extensive community and sporting facilities that will be built.
