If JB wants to sell (or, more accurately, get rid of) the club (which he surely must want to)... he will have to give the club away, debts and all. As Damon said, no one would realistically want to buy the club (unless they had an attachment to Argyle). Even if he gave the club away, debt-free, there wouldn't be many takers, given that any commercial development is a dead duck too... who would want to buy into a loss-making exterprise?
Which means, either way, we'll be rattling around the bottom division (bottom 2 divisions if we're lucky) for decades to come.