Plymouth have secured the funds to avoid a winding-up order, according to the club's administrator.

The npower League Two club appointed the P&A Partnership as administrators back in March and have since been the subject of numerous failed takeover bids, but it has been confirmed that Bishop International Limited was close to finalising a deal which would save Argyle.

A statement on the club's website said: "The joint administrators of Plymouth Argyle Football Company Limited (in administration) are satisfied that Bishop International Limited has secured the necessary funding and everything is agreed between the numerous parties."

Administrator Brendan Guilfoyle added: "This has been a complex deal involving a dozen stakeholders. I am very grateful for the assistance I have received from everyone involved in the sale.

"I can now look forward to the new club obtaining the share from the Football League and retaining their status as a Football League member club."

The £6million deal requires approval from the Football League before it can be completed.

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Topics:
#Football
#League Two
#Plymouth Argyle