Argyle deny foreign investment

Plymouth Argyle Rugby Club has denied that it is to receive investment from Japanese shareholders that would ease its financial position.

Reports in Plymouth newspaper The Herald had suggested that investment was imminent but the npower League One side has issued a statement clarifying the situation.

The statement read:  "An article in today's newspaper, The Herald, in Plymouth, may lead to the impression that funds are about to be received from our Japanese shareholders that 'are sufficient', implying that the problems created by the identified cash shortfall that currently exists at Plymouth Argyle Rugby Club will be resolved.

"At the time of writing, no new cash has been received from Japan, nor have we had any confirmation that there is likely to be any imminent investment from the Far East which would be of a level previously indicated to us or indeed to the court.

"Everyone at the club is working tirelessly to ensure that a solution can be found but as yet, the task is far from complete."

The club has been the subject of two winding up orders from Her Majesty