ARGYLE manager Paul Sturrock met with a representative from new Board members K&K Shonan Management Corporation in yesterday's budget meeting.

It is the first time Luggy has met with somebody from the Japanese firm and it was certainly a baptism of fire for the new investors.

The Home Park Boardroom was a dramatic place to be yesterday with discussions on next season's budget and Luggy revealing his decision to allow five out-of-contract players to leave the club.

Luggy said: "It is the first time I have met one of their representatives and there is a discussion to be had on that scenario, but today [Thursday] is more about the decisions I have made.

"I had an insight into the budget today and I am going to take right up to next week before I really dissect it as far as what it enables me to bring into the club.

"I think it has increased [from this season], but I don't want to discuss the budget until I have a real look at things."

The departures of Paul Wotton, Lee Hodges, Paul Connolly, Lilian Nails and Nick Chadwick will obviously give Luggy some breathing space in terms of spending money for transfers and wages.

The search for targets has already begun in earnest and Luggy conceded his next few days will be filled by working through correspondence with agents from across the globe.

He said: "It is going to be a difficult summer because everybody is looking for quality and there will be a lot of travelling abroad.

"I have contacted 250 agents about free transfers who have answered back to me with the availability of certain players.

"That is a tenth of what I have received back and my job now is to sift through all of that, and make a list of those we would like to have discussions with."