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 Torquay in hands of property developers

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watgull



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PostSubject: Torquay in hands of property developers   Sun Dec 18, 2016 2:49 am

I do not have privileges to start a new thread.
Torquay United are now in the hands of property developers.
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Tgwu

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PostSubject: Re: Torquay in hands of property developers   Sun Dec 18, 2016 3:05 pm

TORQUAY UNITED BREAKING NEWS: The club has been sold to Gaming International


TORQUAY United has been sold to Gaming International, it was announced by the club on Friday afternoon.

It is understood that the deal will be ratified by the National League before Christmas.

The deal will be approved on Monday pending the approval of the Football Association.

It is understood that chairman David Phillips will remain in the post during the transition to new ownership.

Truro City chairman Peter Masters, who has long been linked with the change of ownership at Plainmoor, was at the club when the announcement was made. He is understood to be there in an advisory capacity.

A statement from Gaming International is expected soon.

CHAIRMAN David Phillips will remain at Plainmoor following the sale of Torquay United Football Club to the Gaming International subsidiary company Riviera Stadium Limited – but only for a transitional period.

Phillips and Truro City chairman Peter Masters announced the sale of Torquay to GI this evening and revealed there will be a further press conference on Monday when more details of the deal will be released.

The current Torquay United board will step down – though Phillips will help smooth the transition and remain at the club for the time being, with Masters, acting in an advisory capacity, also saying there are unlikely to be any redundancies.

At a rushed press conference, held at Plainmoor late this afternoon, Phillips read out a statement confirming the sale.

It said: "The board OF TUFC are pleased to announce that they have today unanimously approved the sale of a controlling shareholding to Riviera Stadium Limited – RSL.

"It is expected that contractual terms will be finalised on Monday, December 19, subject only to formal approval to the takeover by The Football Association [and the] National League.

"The TUFC directors are hoping that the completion of the RSL deal will put an end to a protracted period of uncertainty, and offer the club the opportunity to develop and succeed – both on and off the pitch.

"RSL is a member of the Stadia UK division of Gaming International Limited, a UK-based leisure group."

Phillips added: "Peter Masters has a groundshare agreement that still exists and he has been an enormous help to us over the last 12 months.

"He has been through all this financial difficulty at Truro when he took over the club and he has got them into a good state.

"I can't thank him enough for everything he has done for us."

Phillips became the chairman of Torquay after a Dean Edwards and Stephen Breed led consortium took over in time for the start of last season.

Both Edwards and Breed have since left the club – and Phillips and general manager Rob Stanley have been working hard to find new investment and new owners.

But it has been tough and making ends meet has been a constant struggle for the board, especially with the manager Kevin Nicholson balancing a mid-table budget and the team dropping into the lower reaches of the National League.

Gaming International are owned by Clarke Osborne, who lives near Bristol. He has been in various forms of retail, residential and sporting property development for nearly 40 years.

GI almost bought the club earlier this year – back in May – but instead their interest waned. However, in three instalments, the company had loaned the board £120,000 – vital funds to keep the club going – and those payments were due to be repaid by January 31, 2017 or contractually ownership would have been transferred to GI.

Osborne and GI are yet to comment on the deal – but Masters wants Torquay fans to get behind the new owners and 'give them a chance'.

He said: "They have put £120,000 into this club, probably more than anybody else has, and that's a lot of money.

"They are willing to keep going forward – they are not just property developers and whatever else, they genuinely want to take the club forward.

"In the agreement, there are a number of conditions that they need to fulfil and are obliged to fulfil.

"It is positive news and GI has got to be now given a chance to take it forward."

Masters, owner and chairman at Truro, was ruled out of making a takeover bid when the Cornish club won promotion from the Southern League – but he did admit he had previously been interested in buying the club.

He said: "Going back probably 18 months before Truro got promoted to the National League South it was an option and I was very tempted.

"But my loyalties go with Truro City and it must remain that way until my job is fully completed down there.

"I got to know GI over a period of 12 months and I have managed to build up a good working relationship with both GI and Torquay United and we have been able to broker the deal when things got very difficult.

"I am very proud of what I have done actually.

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PlymptonPilgrim
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PostSubject: Re: Torquay in hands of property developers   Sun Dec 18, 2016 3:33 pm

You do fear for Torquay. Would be sad to see them disappear.
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Tgwu

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PostSubject: Re: Torquay in hands of property developers   Sun Dec 18, 2016 4:14 pm

They will move to a new ground and luxury apartment will be built on plainmoor.

Torquay United could be in a new ground by 2019, says chairman David Phillips.

The cash-strapped National League club is currently up for sale, but despite their financial problems Phillips says a new stadium is the best way forward.

"We're looking ahead to a new ground. It's not absolutely concrete yet, but it's very, very likely that we'll be in in about three years," Phillips said.

"When we get to that stage we'll become a self-sustaining club. It's just in the meantime we need financing."

The Gulls first mooted moving to a new ground on the outskirts of the town in February, and have been at their current Plainmoor home for the past 105 years.

Torbay Council own Plainmoor, which ultimately proved to be the stumbling block as a takeover bid for the club faltered last week.

Phillips says a developer would build the ground and give it to the Gulls, but benefit from developing other businesses on land adjacent to the new stadium.

And Phillips says a ground with a synthetic pitch, which could be hired out to other users, would allow the club to be financially viable.

"You have 3G pitches, various sports going on, it's going to be open to all the community, not just Torquay United," he told BBC Sport.

"Torquay United would be the holders of that ground, we'll make money and everyone will get benefits from that.

"I know the council are very keen on this happening, so that's the future, and it's a great future, we just have to survive the next few years."
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Angry

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PostSubject: Re: Torquay in hands of property developers   Sun Dec 18, 2016 6:24 pm

that ground will be up and running long before brent gets a quote for his small stand
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sufferedsince 68

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PostSubject: Re: Torquay in hands of property developers   Sun Dec 18, 2016 6:40 pm

Angry wrote:
that ground will be up and running long before brent gets a quote for his small stand
We've moved on now from the Ministand pipe dream, to the Manky Makeover pipe dream.
Another Jimmy, pipe dream will be along shortly. santa
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Angry

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PostSubject: Re: Torquay in hands of property developers   Sun Dec 18, 2016 7:16 pm

sufferedsince 68 wrote:
Angry wrote:
that ground will be up and running long before brent gets a quote for his small stand
We've moved on now from the Ministand pipe dream, to the Manky Makeover pipe dream.
Another Jimmy, pipe dream will be along shortly. santa

they will be having those old Peruvian pipers on he streets again selling albums called james brent a collection of pipe dreams.
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sufferedsince 68

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PostSubject: Re: Torquay in hands of property developers   Sun Dec 18, 2016 7:24 pm

Angry wrote:
sufferedsince 68 wrote:
Angry wrote:
that ground will be up and running long before brent gets a quote for his small stand
We've moved on now from the Ministand pipe dream, to the Manky Makeover pipe dream.
Another Jimmy, pipe dream will be along shortly. santa

they will be having those old Peruvian pipers on he streets again selling albums called james brent a collection of pipe dreams.
lol! lol! lol! lol!
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Hugh Watt



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PostSubject: Re: Torquay in hands of property developers   Mon Dec 19, 2016 9:37 am

Have any of these people ever even been to Plainmoor?
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RegGreen



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PostSubject: Re: Torquay in hands of property developers   Mon Dec 19, 2016 10:12 am

sufferedsince 68 wrote:

Angry wrote:
sufferedsince 68 wrote:
Angry wrote:
that ground will be up and running long before brent gets a quote for his small stand
We've moved on now from the Ministand pipe dream, to the Manky Makeover pipe dream.
Another Jimmy, pipe dream will be along shortly. santa

they will be having those old Peruvian pipers on he streets again selling albums called james brent a collection of pipe dreams.
lol! lol! lol! lol!
lol lol lol lol nearly choked on my peruvian mocha in costa coffee there angers  lol lol lol lol
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pepsipete

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PostSubject: Re: Torquay in hands of property developers   Mon Dec 19, 2016 12:08 pm

Well Argyle are owned by a developer,  lets hope Torquay's actually develops something
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Czarcasm

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PostSubject: Re: Torquay in hands of property developers   Mon Dec 19, 2016 1:24 pm

Angry wrote:
sufferedsince 68 wrote:
Angry wrote:
that ground will be up and running long before brent gets a quote for his small stand
We've moved on now from the Ministand pipe dream, to the Manky Makeover pipe dream.
Another Jimmy, pipe dream will be along shortly. santa

they will be having those old Peruvian pipers on he streets again selling albums called james brent a collection of pipe dreams.

Take a bow Angry. That made me proper chuckle. king
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