Plymouth Argyle

Plymouth Argyle's dreams of completing the redevelopment  of Home Park has taken a massive step forward, with the club agreeing a purchase price with freehold owners, Plymouth City Council.

A meeting of Plymouth City Council's Cabinet on 14th March 2006 approved the proposed sale of the freehold of Home Park to the club.

An independent valuation, accepted by both sides, has priced Home Park at £2.7m.

This would free Argyle from a 125-year lease and annual rent charges - and give the club the security to spend cash on completing the redevelopment of the ground.

"I was extremely happy to witness and was impressed by, the democratic process in action. We are now happy to leave the matter in the hands of both sides' legal teams."

The club has already redeveloped three sides of the stadium, but has still to rebuild the main stand on the Mayflower side of the ground. Club officials have previously said they want to start work this year on the final part of the development.

Chairman Paul Stapleton welcomes the progress made with the council: "I and my fellow director Phil Gill have been actively engaged by the board to bring the Phase Two rebuild of the main grandstand at Home Park to a successful conclusion.

"We discussed with the council the possibility of acquiring the freehold of the site, a move which would enable the club's lenders to assist with the future development of Home Park.

"All the directors are dedicated to the continued improvement of the club and we are aware that manager Tony Pulis and his team are as ambitious as anyone to complete the Home Park infrastructure in order to attract players to Plymouth."

The Plymouth chairman added: "We are pleased with the assistance of the city council in achieving this fundamental and important step towards our main goal of providing the people of Plymouth, and Argyle supporters everywhere, with a team and a club that ranks among the best in the country.

"We are also pleased to work in partnership with the city council and look forward to being an integral part of the city's planned Life Centre project in Central Park."

The council's sale of the ground wouldn't just help Argyle - it would also raise cash for the authority.

Council leader Tudor Evans said: "This move would help the club in its ambitions for the ground, which we are very keen to support.

"It is a 'win-win' solution. It will free the club from the burden of a lease and will give it greater flexibility to raise funds. It gives the club greater security and puts its destiny in its own hands.

"Plymouth Argyle deserves a ground that reflects its ever-growing reputation. This proposal is a winner not only for the club and the council but for the city as a whole."