“2024-25 was a disappointing year on the pitch as our men’s first team suffered relegation from the Championship after two seasons,” Hallett said, in notes published with the accounts.
“That outcome was particularly disappointing as it was the first season in several years in which we failed to get results that were significantly better than were implied by our football budget.
“Our strategy has been based on outsmarting our opponents, not outspending them, and in 2024-25 we failed.”
Hallett leant Argyle £9,808,539 from July 2025 onwards, in addition to £2,628,961 in the club’s second season in the Championship – a total of £12,437,500 since July 2024.
Under Hallett’s leadership the club has continued to invest off the field with £5m spent on infrastructure including the new Foulston Park training ground development at the Brickfields and work at Home Park stadium.
As well as selling around £8m worth of player Argyle spent in excess of £5.5m on players over the period, with Michael Baidoo, Maksym Talovierov and Rami Al Hajj among those joining the club.
All three have since left – two on permanent deals and Baidoo on loan.
“We also continue to invest in data-driven recruitment strategies that align with our player trading model,” added Hallett.
“This approach, which focuses on identifying and developing talent for future resale, allows us to maintain a competitive playing squad without overextending financially.
“In tandem, our long-term capital investments, such as the development of our new academy at Brickfields, serve to strengthen the club’s operations.”
