Simon Hallett outlines Plymouth Argyle financial pressures as club will 'lose a lot of money' Argyle's owner and chairman has also reiterated the need for new investment into the League One club Comments Sport Chris Errington Football Reporter 15:15, 13 Apr 2026 Updated 15:27, 13 Apr 2026 View Image Argyle owner and chairman Simon Hallett at the League One game against Bradford City at Home Park on 6 December 2025 - Photo: Dave Rowntree/PPAUK Plymouth Argyle are 'going to lose a lot of money' this season on their return to League One, owner and chairman Simon Hallett has declared. In an interview with BBC South West , Hallett stated the average club in the third tier of English football was now losing £6 million a year, so financial issues are widespread and far from being limited to the Pilgrims. Argyle reported a profit of £478,000 for the year ending June 2025 , which followed the club's relegation from the Championship, but that was only because of the sale for significant sums of money of players such Michael Cooper, Lewis Gibson and Morgan Whittaker. Read More: Alex Mitchell importance to Argyle spelled out in stats Read More: Tom Cleverley addresses Argyle striker Bim Pepple injury situation Hallett, who has provided loans of around £12.4m to Argyle since the summer of 2024, said to the BBC: "When you come down from the Championship, players have contracts that reduce, but not by enough to cover your costs. "And frankly a few of the other costs in the club had crept up and we weren't aggressive enough in cutting them back, so we were having Championship quality stuff and we didn't go back to League One quality stuff, so again that's something we're going to have to address as well. "At an individual level it's heart-breaking, but we want a sustainable football club one day. We're not going to have one this year; this club is going to lose a lot of money this year like every other League One club these days. "So it's partly football, it's partly not just the Championship - what's happened in the Championship has spread to League One and League Two, so the average club in League One now is losing over £6m a year." Hallett, who has been Argyle's majority owner since 2018, also spoke about the search for new investment into the club, which has been ongoing for some time. He said: "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. "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." You can read more of our Argyle stories from Plymouth Live by clicking HERE Article continues below Join our Plymouth Argyle WhatsApp community for transfer news and top stories sent directly to your phone PlymouthLive has launched a Plymouth Argyle transfer news and top stories group on WhatsApp and we want you to join us. Once you sign up for our updates, we'll send all the latest straight to your phone. To join our community, you need to already have WhatsApp. All you need to do is click this link and select 'Join Community'. No one will be able to see who is signed up and no one can send messages except the PlymouthLive team. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'Exit group'. If you're curious, you can read our Privacy Notice . Click here to join our WhatsApp community .
Curated by Taleb Kabbara · Source: www.plymouthherald.co.uk