Since Plymouth Argyle’s relegation to League One, owner Simon Hallett has lent the club £9.8 million.

The club’s annual reports, which were disclosed on December 23, show the Pilgrims achieved a profit of £478,000 for the fiscal year ending June 30, 2025.

That amount is an improvement over the previous year’s loss of more than £2.4 million, although it is only owing to an increase of roughly £8.9 million in revenue, which was boosted in part by just under £8 million in player sales.

Michael Cooper, Morgan Whittaker, Lewis Gibson, Adam Randell, and Ryan Hardie were all sold during the era, and they were relegated from the Championship after two seasons in the second division.

The club’s record £18 million salary cost – up £3 million from the previous season – accounted for 73.7% of revenue, which increased to a record £28.8 million thanks in large part to a new television deal with the English Football League.

The club also parted ways with former England captain Wayne Rooney as head coach, with the club paying him compensation although the reports do not specify how much the former Manchester United player received.

Successor Miron Muslic also left the club in June, with German club Schalke paying the Pilgrims a fee that is not disclosed.

“2024-25 was a disappointing year on the pitch as our men’s first team suffered relegation from the Championship after two seasons,” Hallett noted in notes published with the records.

“That result was especially disappointing because it was the first season in several years in which we did not achieve results that were much better than those predicted by our football budget.

“Our strategy has been based on outsmarting our opponents, not outspending them, and in 2024-25 we failed.”

Hallett lent Argyle £9,808,539 beginning in July 2025, plus £2,628,961 during the club’s second season in the Championship, for a total of £12,437,500 since July 2024.

Under Hallett’s guidance, the club has continued to invest off the pitch, spending £5 million on facilities such as the new Foulston Park training complex development near the Brickfields and improvements at Home Park Stadium.

Argyle spent more than £5.5 million on players during the era, including Michael Baidoo, Maksym Talovierov, and Rami Al Hajj, in addition to selling roughly £8 million in player value.

All three have since left, with two on permanent contracts and Baidoo on loan. “We also continue to invest in data-driven recruitment strategies that align with our player trading model,” says Hallett.

“This method, which focusses on finding and nurturing talent for future resale, enables us to keep a competitive playing roster without going over budget.

“In tandem, our long-term capital investments, such as the development of our new academy at Brickfields, serve to strengthen the club’s operations.”

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