Admin phantom Posted April 5 Admin Report Share Posted April 5 Confirmed this morning that the administrators are sadly in Quote Link to comment Share on other sites More sharing options...
supercidered Posted April 5 Report Share Posted April 5 I'm a Bristolian that lives in South Devon and know some supporters and season ticket holders. This has been coming for some years now. Some of the money they have been paying players and Management has been mind blowing. Some terrible financial mis-management. The positive in all of this is that at least it looks like there is a take over of the club imminently which should secure the club's future. I just hope it isn't some chancer that is looking for a quick buck. Plainmoor has been long sought after for residential building projects which is my worry. However, if this can be achieved with the proviso of a new ground somewhere in or around Torquay then if it means the club survives then I guess it's a compromise that will have to be struck. 3 Quote Link to comment Share on other sites More sharing options...
Eddie Hitler Posted April 5 Report Share Posted April 5 Any sensible potential buyer will wait until the club goes into administration before making an offer as then they are negotiating with the administrator who will sell much more cheaply than the owner, as the owner has already lost their money and only the creditors have a vote on each bid. I don't know why people are surprised that Torquay have gone into administration as this almost always happens and it is actually a better deal for the club's future as the buyer's money goes purely to the creditors and not to the previous owner. Also AFAIK the freehold on Plainmoor is owned by the council and the strategy of the previous owners was to have this transferred to them, which didn't happen as the councillors are not retarded. 3 Quote Link to comment Share on other sites More sharing options...
supercidered Posted April 5 Report Share Posted April 5 10 minutes ago, Eddie Hitler said: Any sensible potential buyer will wait until the club goes into administration before making an offer as then they are negotiating with the administrator who will sell much more cheaply than the owner, as the owner has already lost their money and only the creditors have a vote on each bid. I don't know why people are surprised that Torquay have gone into administration as this almost always happens and it is actually a better deal for the club's future as the buyer's money goes purely to the creditors and not to the previous owner. Also AFAIK the freehold on Plainmoor is owned by the council and the strategy of the previous owners was to have this transferred to them, which didn't happen as the councillors are not retarded. I think you give Torbay Council far too much credit Eddie. 1 1 Quote Link to comment Share on other sites More sharing options...
Eddie Hitler Posted April 5 Report Share Posted April 5 6 minutes ago, supercidered said: I think you give Torbay Council far too much credit Eddie. I can't say that I have been following the saga closely but this is from Feb 2024 and says that the council had very sensibly refused to sell Osborne the freehold. The Gulls’s Plainmoor ground is owned by the council and leased to the club under and agreement which has nearly 60 years still to run. Previous owner Clarke Osborne, who stood down last week, had wanted to build the club a new stadium away from Plainmoor. But the council had been adamant that Plainmoor itself is not for sale, and Mr Osborne would never be able to build homes on it. https:w//www.torbayweekly.co.uk/news/home/1435351/council-pledges-to-be-an-anchor-for-torquay-united.html 1 Quote Link to comment Share on other sites More sharing options...
supercidered Posted April 5 Report Share Posted April 5 2 minutes ago, Eddie Hitler said: I can't say that I have been following the saga closely but this is from Feb 2024 and says that the council had very sensibly refused to sell Osborne the freehold. The Gulls’s Plainmoor ground is owned by the council and leased to the club under and agreement which has nearly 60 years still to run. Previous owner Clarke Osborne, who stood down last week, had wanted to build the club a new stadium away from Plainmoor. But the council had been adamant that Plainmoor itself is not for sale, and Mr Osborne would never be able to build homes on it. https:w//www.torbayweekly.co.uk/news/home/1435351/council-pledges-to-be-an-anchor-for-torquay-united.html When I saw that you had replied to my last post. I suddenly thought that you were going to say you were a Councillor on Torbay Council. The problem here is that there is nothing to say Torbay Council won't build houses on it. This has to be the end game in some shape or form i.e. the new owners given land elsewhere to build a new ground for TUFC. Maybe I'm just a cynical old git. 1 Quote Link to comment Share on other sites More sharing options...
Eddie Hitler Posted April 5 Report Share Posted April 5 4 minutes ago, supercidered said: When I saw that you had replied to my last post. I suddenly thought that you were going to say you were a Councillor on Torbay Council. The problem here is that there is nothing to say Torbay Council won't build houses on it. This has to be the end game in some shape or form i.e. the new owners given land elsewhere to build a new ground for TUFC. Maybe I'm just a cynical old git. Maybe so, but the council has done the right thing thus far so I'll give them the benefit of the doubt. Meanwhile the football club killer seeks their next victim. 3 Quote Link to comment Share on other sites More sharing options...
TV Tom Posted April 5 Report Share Posted April 5 A really sad state of affairs Quote Link to comment Share on other sites More sharing options...
Kid in the Riot Posted April 5 Report Share Posted April 5 Not sure why it's sad the administrators are in? Surely it's good news the club is no longer in the hands of Clarke Osborne. 8 Quote Link to comment Share on other sites More sharing options...
22A Posted April 6 Report Share Posted April 6 Clarke Osborne has been mentioned several times previously on this and other fora.If a sports club; football, rugby, speedway etc is about to fold or become homeless, C O is frequently linked. 2 Quote Link to comment Share on other sites More sharing options...
TV Tom Posted April 6 Report Share Posted April 6 14 hours ago, Kid in the Riot said: Not sure why it's sad the administrators are in? Surely it's good news the club is no longer in the hands of Clarke Osborne. I didn’t mean the administration part of things but how far Torquay have slid down the Pyramid and that slide might not be over yet Quote Link to comment Share on other sites More sharing options...
Red-Robbo Posted April 6 Report Share Posted April 6 1 minute ago, TV Tom said: I didn’t mean the administration part of things but how far Torquay have slid down the Pyramid and that slide might not be over yet I think thry'll have just about enough in them to survive this season. They'd be nowhere near relegation without the point deduction. Taunton Town however, I'm not so sure. It doesn’t help that they have to play home games away. Quote Link to comment Share on other sites More sharing options...
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