Following the revelations midweek that Devonshire businessman James Brent had taken over as favourite to buy the club, Heaney has admitted defeat and withdrawn his consortium's bid.
Heaney expressed his disappointment at having to walk away from the club but wished the Pilgrims good look, "Whoever takes over Plymouth Argyle, all I wish them is the very best."
"Nothing would make me happier than to see a buyer for Argyle who's got more resources and would do better. I gave it my heart and soul and I think the true fans all respect that I've done my best."
Following Heaney's withdrawal a new party interested in making a bid for the club have emerged. The group, reportedly involving investment from the likes of Uri Gellar and Mohamed Al Fayed, are considering making an offer.
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