Hallett 'patient' in search for new Plymouth investor
Simon Hallett took over Plymouth Argyle from James Brent eight years ago [Shutterstock] Plymouth Argyle owner Simon Hallett says he is being "patient" in the search for new investment in the League One club. Hallett has been in control at the Pilgrims since 2018 and has invested millions in new infrastructure both at Home Park and in a new training facility. He had agreed in principle to sell a stake in the club a year ago, but that deal fell through.
According to their last set of accounts published in December, the Plymouth-born, American-based businessman lent the club £9. 8m after relegation from the Championship last May. Those figures showed that in total he lent Plymouth almost £12.
5m between July 2024 and December 2025. "I think we have to be patient, because we're so careful about getting the right person in as an investor, or the right group in as investors," Hallett told BBC South West. "I think three years ago I used the phrase "tapped out" and there's been a lot more gone into the club since then, so at some point Jane (Hallett's wife) really will take the wallet away and that time's about now.
"It's been enough money gone into the club, it's mostly been in infrastructure, which will outlive me, which I'm really pleased about. "But when it starts to cover operating losses then I'm less happy - I want my money to build something permanent for the fans here, not just go into this year's operating expenses, so we need a new investor. " New investment in Argyle has fallen through - owner Job losses proposed in Plymouth Argyle restructure Owner Hallett lends Plymouth £9.
8m after relegation Argyle are going through a redundancy programme which is seeing up to 20 people lose their jobs following the club's relegation last season. Hallett says rising costs are affecting the club in the same way as other businesses, but without investing in the side, they will be left behind by other clubs in the third tier. "When you come down from the Championship, players have contracts that reduce, but not by enough to cover your costs," he explained.