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Page last updated at 16:36 GMT, Thursday, 25 November 2010

Peter Ridsdale holds Plymouth Argyle investment talks

Peter Ridsdale
Ridsdale had a very high-profile spell in charge of Leeds

Plymouth Argyle have confirmed that former Leeds United and Cardiff City chairman Peter Ridsdale has been in talks about investing with the club.

Ridsdale left the Bluebirds in May after five years, having overseen the move into Cardiff's new stadium.

A Plymouth club statement said: "Peter has extensive experience in football.

"He is just one of a number of parties that we have undertaken exploratory discussions, with regard to potential future investment."

It added: "If and when there is anything further to add we will do so at the appropriate time."

The club have also confirmed that American director George Synan was present in Plymouth on Thursday.

I am certainly not in a position to announce anything at the moment as negotiations are ongoing

Peter Ridsdale

Synan and Japanese businessman Yasuaki Kagami secured a 38% share in Argyle in 2009, since when the club has experienced several financial problems.

Argyle recorded a £2.8m loss for the 2008/09 financial year, and they were issued with a winding-up order for unpaid tax by HM Revenue & Customs last season.

Recently, the League One side attracted their lowest gate of the season, with just 4,960 fans watching them beat Dagenham and Redbridge 2-1 on Tuesday.

The club has also allowed Marcel Seip, Rory Fallon and Steve MacLean to go out on loan in the last two weeks.

Additionally, the Plymouth board have spoken openly of their desire to attract further investment.

Ridsdale confirmed to BBC Spotlight that he was in Plymouth on Thursday.

He said: "I must point out that I am not the only person in discussion with the Argyle board, there are plenty of other interested parties.

"But I am certainly not in a position to announce anything at the moment as negotiations are ongoing.


"I don't know how long it will be before an announcement will be made if it is going to involve myself."

Ridsdale was recently linked with a takeover bid at fellow League One side Charlton, reports that were denied by the former Leeds chairman as being "categorically untrue and without foundation".

He was chairman of Leeds for six years, during which time they qualified for the Champions League and were a major force in the Premier League, before he resigned from the post in 2003.

Famously, he said the club was "living the dream" but that soon turned into a nightmare of financial problems, as they slid down from the top flight to League One.

After spell as chairman of Barnsley between 2003 and 2004, he took over Cardiff in 2005, helping their move to a new stadium before leaving earlier this year, when a Malaysian consortium took over the club.

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