Plymouth Argyle have moved a step closer to administration this afternoon.

They have just announced that they have issued a notice of intention to appoint an administrator.

Today's action does not mean that the club is in administration but could buy them some time as discussions with potential investors continue.

In a statement from deputy chairman Paul Stapleton, the club says that the action gives them protection from insolvency action by creditors.

It says any further developments will depend on those discussions with investors.

As a result of football league rules though , the club will still be subject to a ten point deduction.

Peter Ridsdale will continue to act as an advisor to the board.