Plymouth Argyle: Projected record revenues fund January transfer window spending

January signing Callum Wright scored his first Argyle goal in the 4-2 win over Cheltenham Town on Saturday

Plymouth Argyle were able to spend money on transfer fees this month due to projected record club revenues, says chief executive Andrew Parkinson.

The Pilgrims are top of League One and have seen sell-out crowds of more than 16,000 for nine of their 14 home games.

Argyle have spent money on players such as Tyreik Wright, Ben Waine, Saxon Earley and Callum Wright this month.

Plymouth posted record revenues of £11m for the last financial year and recently received a £4m investment.

"The increase in revenues - driven in large part by the dedication of our supporters - has allowed us to provide substantial support to our football staff in the January transfer window," Parkinson said in a message to fans.

"It has been noted by fans and media alike that we have spent fees in the transfer market in a concerted manner not seen at Argyle since the club was last in the Championship.

"While this is an evolution of our approach, it is not a deviation from our long-held values and philosophy as a club - and has only been possible as a result of incredible support from the Green Army.

"Across the board, the club's revenues have allowed us to be in a position to spend fees."

In August, a United States-based consortium bought a 20% stake in the club for £4m with chairman and majority shareholder Simon Hallett telling BBC Sport that the money would be used for infrastructure projects.

Last month, the club published updated plans for a new training ground which saw Argyle enter a deal to buy land adjacent to Home Park which is currently home to Goals Plymouth and close to the current training base.

Plymouth also agreed a new long-term contract with highly-regarded manager Steven Schumacher in November.

"Argyle has also become an attractive proposition for players, thanks to the vibrancy and culture of the club, the quality of the coaching, and the philosophy of our football," Parkinson added.

"The commitment of supporters to back the project at Argyle and drive revenues to unprecedented levels has allowed us to make measured and sustainable increases to the playing budget, just as we had promised we would when we took the difficult decision to raise season ticket prices in the summer.

"The recruitment team have identified and secured their targets early in the window, using data to acquire a profile of players who we feel will not only contribute to the run-in but, crucially, grow alongside the club.

"We have strength in depth and, whatever happens between now and May, we have left no stone unturned in the pursuit of our ambitions.

"The next few months are going to be a huge challenge, but the club is as prepared as it can possibly be for what lies ahead," he added.