PLYMOUTH Argyle chairman Simon Hallett says talks with potential new investors are continuing and could conclude within weeks – but admitted the club’s need for fresh investment is now being treated with “some urgency”.

Hallett gave fans an update during a forum at Home Park on Friday night, revealing discussions were ongoing but that non-disclosure agreements prevented him from providing details about the parties involved.

“We are continuing talks,” he said. “We are hopeful they will conclude in the next few weeks but can't make any promises. I will just say the need for investment continues so it’s being treated as a matter of some urgency.”

The update came as chief executive Paul Berne revealed Argyle are expected to record losses of around £11.5 million for the 2025/26 financial year – £900,000 more than previously forecast.

Berne warned the club would again make a significant loss during the current campaign, saying: “We won't get anywhere near break-even. We will make some improvements.

“It’s unrealistic for us to expect we will get back to a zero position in one year… I would still expect us this year to be losing multiple million pounds.”

The club is also facing increased costs at Foulston Park, its new academy and women’s team base at Brickfields in Devonport.

Berne said the development is now expected to cost around £23m – approximately £6m over budget – with Argyle’s contribution rising from an anticipated £11.5m to between £17m and £18m.

Despite the financial pressures, Berne said the new infrastructure could help attract investors, with opportunities to develop both Foulston Park and Home Park, including potentially filling the stadium corners.

Hallett confirmed the additional costs would not directly reduce the first-team playing budget, but said the overspend had been funded by himself and wife Jane.

“That’s money I would not have made available for the playing budget,” he said.