Plymouth Argyle have announced chairman and majority shareholder Simon Hallett has invested a further £1.5m into the club.
The additional investment was made through the purchase of another 1.5m £1 shares in the club.
Hallett is a partner and co-chief investment officer at an American-based investment management firm at Harding Loevner. The United States-based businessman is a Plymouth College graduate and became a Pilgrims director in April 2016, when he acquired a nearly 30% shareholding.
In September, he turned a £4.1 million, 30-year loan into equity, which increased his Argyle shareholding to 97 percent and effectively made the club debt-free.
He stated at the time that is aim was to make the club self-sustainable, but the latest cash boost was needed to cover several one-off costs related to the completion of Argyle’s new Mayflower Grandstand. The statement reiterated the aim of moving the club to ‘a position of financial sustainability in the near future.’
Plymouth fans soon took to social media to react to the news, with most expressing gratitude and positivity to their popular owner. Some did add a note of caution about the long term finances of the club, but the vast majority believe Hallett is the best owner the club has had for many a year.
Here is a selection of their responses to the news.
What a legend
— Bo (@ChrisPartridge2) November 27, 2019
What a legend best owner we've had amazing that he has his heart in the club.
— Adam Hodge (@FIWCHAMP9) November 27, 2019
We are so lucky to have a chairman who blatantly wants to be in the premiership and understands what it takes to get there.
— Kevin Knight (@BigKnightyOut) November 27, 2019
just hope we get the numbers and support he deserves from the club could be big things ahead 💚
— J.A (@jackandrews_) November 27, 2019
Excellent from Simon & Jane. But at some point the bailing out will have to stop. The club needs to be self-sufficient.
— Ian Esq. (@52_ian) November 27, 2019
👏🏻👏🏻Thankyou Simon and Jane ⚽️💚💚🇳🇬🇳🇬🇳🇬😊
— Sue Steer (@SteerSue) November 27, 2019
What a man ♥
— The Fash Gang/Pugwall/Pat (@FashGang) November 27, 2019
Thanks @SimonHallett . We'll build a statue of you one day, I promise
— FactCheckUK (@grogee) November 27, 2019
Brilliant Simon and Jane and thank you but Simon, maybe give your debit card to Jane to look after for a while mate, could be for the best 😂
— Shane Harris (@Shane__Harris) November 27, 2019