Simon Hallett: Plymouth Argyle owner to become chairman of League One club

Simon Hallett owned approximately 42% of Argyle's shares before the deal with James Brent

Plymouth Argyle's majority shareholder Simon Hallett is to become the League One club's chairman.

The United States-based businessman was due to stay in his role as vice-chairman when current chairman James Brent steps down on 31 October.

But chairman-elect David Felwick, a former managing director of supermarket chain Waitrose, will not now take over for personal reasons.

Hallett has a 54% stake in the club, while Brent has retained a 30% share.

Lifelong Argyle supporter Hallett, who is chief investment officer of a global investment management firm, and his wife Jane gave the club £4.1m towards their new grandstand last January.

They previously invested a 'substantial amount' in the club when he joined the board in April 2016.