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Plymouth Argyle's new owner will spend money to strengthen the club's squad in the January transfer window.

Club president Chris Webb says James Brent, who took over Argyle in October after bringing the club out of administration, has funds available.

"James Brent has confirmed to me that he is committed to giving the manager Carl Fletcher a budget to spend in January to improve the team," he said.

Webb's comments came after football chairman Peter Ridsdale left the club.

Ridsdale has joined Preston North End as their new chairman after a year of involvement at 91�ȱ� Park.

While Argyle survived the threat of going out of business, they were relegated from League One at the end of last season and are bottom of League Two.

But Webb says the news of further funds to build up the team should help Argyle stay in the Football League.

"With the news from James that he aims to further strengthen the team in January, Peter will assist in that and the new incumbent will add to that as well.

"I'm more than confident that Argyle will retain their Football League status this season.

Meanwhile, Webb paid tribute to Ridsdale's work at Argyle over the past year.

"The reaction was very mixed when he (Ridsdale) first came down here, but he's proven over a period of time firstly, that his actions, whilst the ex-board froze back in January, saved the club, and now his actions in bringing in the likes of Darren Purse to the club, have made on the pitch improvements as well.

"He leaves with our support, he'll always be a figure that divides football fans whatever club he goes to, but there is no doubt that he has played a key role in helping to save Argyle.

"James Brent's gone out and employed the UK's top headhunting agency so we expect the new appointment and the new chairman to be of an equally high standard."