TorquayFans.com | Torquay United Fans Forum

I once raised £50,000 ( in 1995) to rebuild a Clubhouse for a Tennis Club. Don't laugh! It was dead easy. Interest free loans from some Members and a Loan from the LTA.

Can we raise £400,000? It only needs 1,000 fans to put up an interest free loan of £400. It is possible. Many Football Clubs have raised money very quickly when push comes to shove. Wrexham is a good example.

Many fans, I am one, would put up £400 interest free rather than see TUFC go into Administration.

The first objective would be to pay off Gaming International.

I would be interested in constructive replies because I feel it is very important to have a contingency plan in place just in case the 2 bidders and 2 potential bidders fail to strike a deal with the Board by the end of November.

I can think of a few people who would put up a lot more than £400. I believe anything is possible but accept that many people take the opposite view.

It could probably be done fairly rapidly if push came to shove. The issue is what happens to the club if fans have made such a massive investment without anything in return (eg representation on the board or ownership of the club)?

Does that £400k go down a black hole of paying off GI/Masters and the rest being used by the current board to prop up their directorship? Does it safeguard the club for a while until the next GI come along? Is it used as a carrot to dangle in front of a potential investor who gets the benefit of fans money to serve their own agenda?

Or could it be used by TUST to buy the club and safeguard its future for fan ownership or until a suitable investor comes along who supporters get to vote on buying the club?

TUST ownership does not necessarily mean the club is fan-run forever. It would, however, ensure that supporters get to decide, whether or not to accept a potential new owner.

If we can raise £400,000, we should do so within the week. Use £100k to pay GI and £300,000 goes into the Player Fund. Doesn't matter who owns us, we'd win the league.

I look forward to it.

Matt.

I would. Let's face it, it's taken nearly a year to raise £14k for the players fund, Which is great but in the grand scheme of things is pathetic, when suddenly your saying £400k is achievable. And yes I donate to the players fund.

A lot of fans have stopped their regular donations to the Players Fund; some stopped when it looked almost certain that GI would become the owners earlier in the year; & others have stopped more recently for various reasons (disappointment, uncertainty about ownership,disenchantment etc); some have decided to pay into The Yellow Fund (TUST account ) instead.

taxilady wrote:A lot of fans have stopped their regular donations to the Players Fund; some stopped when it looked almost certain that GI would become the owners earlier in the year; & others have stopped more recently for various reasons (disappointment, uncertainty about ownership,disenchantment etc); some have decided to pay into The Yellow Fund (TUST account ) instead.

I donate to both. But I doubt those switching paying to TUST rather than players fund have donated/raised 400k, let's face it I pay £2 a month to TUST, and that's the standard payment.

hector wrote:It could probably be done fairly rapidly if push came to shove. The issue is what happens to the club if fans have made such a massive investment without anything in return (eg representation on the board or ownership of the club)?

Does that £400k go down a black hole of paying off GI/Masters and the rest being used by the current board to prop up their directorship? Does it safeguard the club for a while until the next GI come along? Is it used as a carrot to dangle in front of a potential investor who gets the benefit of fans money to serve their own agenda?

Or could it be used by TUST to buy the club and safeguard its future for fan ownership or until a suitable investor comes along who supporters get to vote on buying the club?

TUST ownership does not necessarily mean the club is fan-run forever. It would, however, ensure that supporters get to decide, whether or not to accept a potential new owner.

Hector in response to your questions this is how I read the situation.
Raising £400,000 is if, and only if, the Board fail to do a deal by the 30 November. At the meeting on Wednesday Dave Phillips seemed very confident a buyer would be found with 2 offers on the table and 2 other potential bidders.
Say no deal is done. Then we the fans have to act if we want to save the Club from GIL.
If we, lets say TUST, go with my plan then the following would seem sensible.
First we pay off GIL and Mr Masters if he has lent the Club money. We have no firm information on whether Mr. Masters has lent money or on the terms.
Then TUST negotiates with the Board to buy the Club as a Community Club in the same way as numerous other Football Clubs have up and down the Country. This will not be easy. What we do not know is the cost of "the detached house" the Chairman has in mind.
The question we all have to ask is what the Board will do if no deal is done. Will they insist on dealing with GIL or will they give say TUST 2 or maybe 3 weeks to raise £x?

we could also try crowd funding, the wider football community when they see that a club is really in peril, which we are. i would def put £400 in but think we would struggle to raise the money just from tufc fans

Lets face it, the club isn't worth anything to anyone other than the fans. Investors will pay for a profit-making venture, all the others go for a pound. A piece of land is worth something to a property developer (GI), the football enthusiasts (unless very rich) won't pay at all.
If the fans buy it then there is no way someone will outbid us unless the council give the go-ahead to sell Plainmoor. Don't get too excited about the 'detached house' quote. Something is only worth what someone will pay for it.

count me in

In response to MarkL the point that worries me most is that if the Board do not do a deal and we all sit on our hands GIL will get the shares in the Club in lieu of Repayment of their loan and we as a Club are snookered.
GIL are not interested in the Club only in the potential of Plainmoor if they can obtain the Freehold from Torbay Council.
So to GIL it is worth a punt but surely we the Fans should buy the Club and repay GIL.
I sure hope Dave Phillips has some genuine buyers lined up this time. Very worrying situation.

MarkL wrote:Lets face it, the club isn't worth anything to anyone other than the fans. Investors will pay for a profit-making venture, all the others go for a pound. A piece of land is worth something to a property developer (GI), the football enthusiasts (unless very rich) won't pay at all.
If the fans buy it then there is no way someone will outbid us unless the council give the go-ahead to sell Plainmoor. Don't get too excited about the 'detached house' quote. Something is only worth what someone will pay for it.

The housing market is notorious for its ability to fluctuate.

portugull wrote:In response to MarkL the point that worries me most is that if the Board do not do a deal and we all sit on our hands GIL will get the shares in the Club in lieu of Repayment of their loan and we as a Club are snookered.
GIL are not interested in the Club only in the potential of Plainmoor if they can obtain the Freehold from Torbay Council.
So to GIL it is worth a punt but surely we the Fans should buy the Club and repay GIL.
I sure hope Dave Phillips has some genuine buyers lined up this time. Very worrying situation.

Personally I am not so confident following the Chairmans statement on the OS or is it just me being suspicious and/or pedantic ( see the new owners soon thread ) :B

A very poorly worded Statement. You could say it implies that the two offers "on the table" mentioned at the Forum have been withdrawn.

torq2u I agree with you this Statement does not fill me with confidence quite the contrary.