Torquay United Fans Forum

wbw

Amazing how many players who were completely ineffectual at Torquay are in demand at other clubs.
Nothing to do with the way they were managed before, I'm sure!

wbw

Lot of 2 year deals being handed out, even at this early stage. Serious money is obviously being invested, so mid table is definitely not the aim! It's a promotion plan, without doubt.

wbw

CP Gull wrote: ↑02 Jun 2024, 20:45 He is a career long Accountant and a massive TUFC fan who I can say with absolute confidence knows more about the history of OUR football club than ANY other fan, no one else would even come close to be honest.

Tremendous financial background coupled with his dedicated knowledge of TUFC, makes him a wonderful appointment.

wbw

UnitedinDevon wrote: ↑31 May 2024, 12:30 The best line in the update

Clarke Osborne, George Edwards and Mel Hayman have resigned as directors.

music to my ears

And you missed the line that said

Special mention must also go to the outgoing directors, whose commitment in supporting us to achieve this outcome cannot be underestimated”.

wbw

exilegull wrote: ↑22 May 2024, 23:29 Accountants account for the figures and prepare the financial statements, they don’t set the budgets and make the spending decisions, the board of directors and management do that.

This should be taken in no way as a defence of Osborne, that is absolutely not the purpose - but there remains very little evidence that on the non-footballing side, there was any substantial extravagance. So the losses of 20k a week mostly came from having a playing budget well in excess of the capacity of the club.

Absolutely 100% correct. Despite one posters obsession with the club accountant, the club appears to gave been properly, apart from the stupidly over inflated playing budget.

wbw

exilegull wrote: ↑22 May 2024, 15:12 There doesn't seem to be anything unusual about the football creditors and nothing to suggest these weren't paid on time up to the point the club announced the intention to enter administration at which point payment to creditors will generally stop and then simply accrue. Same with utilities and inland revenue, the amounts don't suggest any build of unpaid amounts prior to the plug being pulled.

wbw

Previous examples of clubs going into administration and moving forward under a CVA suggest that another points deduction will not apply. To the best of my knowledge, no other club has suffered an additional penalty.

wbw

Strange isn't it? 3 or 4 other posters make similar observations regarding the creditors list, none of which do you chose respond to.

wbw

culmstockgull wrote: ↑22 May 2024, 14:29 The list of outstanding creditors just shows how badly the club was being run and running costs were not only out of control but there was no control, £2900 to a bistro in paignton ( perhaps someone could explain that one), £990 pounds to an embroidery service ( perhaps as part of his ludicrous contract johnson had to have his initials embroidered on his pyjames), 7000 to a accountants company in newton abbot( I thought thats what we had mel Hayman for) over 140K to the inland revenue, water and electricity that havent been paid for goodness knows how long and certainly long before feburary when osborne pulled the plug. Many thousands owed to clubs we took loan players from like colchester and fleetwood, small outfits like ourselves that need every pound that is owed to them, I am surprised with our track record anyone will loan us a player. Torquay United wasnt being run on any business model that I understand but by people who realised these costs could never be paid but continued spending anyway.

To be fair, there is very little in there that suggests a poorly run or extravagant club.
To take a couple of examples;
Limited companies have to use the services of an external independent auditor to submit their annual accounts.
Who did you think does the badge work on shirts for own use and resale to supporters?
HMRC amount is not huge in terms of months, maybe 2 months at most.
Football club creditors are what you would expect. Very few, if any, club to club payments are made up front. Most are scheduled over a season.
Electricity costs for floodlights are horrendous, so don't think that amount is particularly excessive.

Whatever the rights and wrongs of Osborne’s tenure, the club was certainly not being run in a way that couldn't be covered by his cash injections, until the plug was pulled.

wbw

Owlgull wrote: ↑15 May 2024, 18:44 Further to this, Companies House shows Scoring Goals Ltd as having 6 officers associated with the company, but only lists the 5 names we are already aware of.

The 6 officers includes the person who has resigned. She was presumably the person who registered the name months ago. So only 5 people officially involved.

wbw

Gotta feel for Downes. Worked his proverbials off in what must have been horrendous circumstances and is rewarded by the sack.

wbw

TommyGunn wrote: ↑08 May 2024, 18:45 Also read that James Watt is to step down as chief executive of Brewdog.

Was first announced last year tbf. He has a bloody awful reputation as an employer as well.

wbw

exilegull wrote: ↑05 Apr 2024, 17:37 Its likely it has gone into adminstration so an agreement can be reached with all creditors.

All of whom will lose an awful lot of money.

wbw

UnitedinDevon wrote: ↑03 Apr 2024, 15:42 oh yes, we are on the precipice of a mighty return to the EFL at the moment so wouldn't be worth it...

The club needs daily income - not a few Saturdays and Tuesdays during the year, IF it could be affordable and good quality I would switch it

Approx £500k to do it properly. Not a prayer at Plainmoor. I was referring to the earlier poster asking about Gloucester

wbw

TommyGunn wrote: ↑03 Apr 2024, 16:12 Then I can't see the TUST bid being accepted.
https://www.devonlive.com/sport/footbal ... ek-9202414

That's my gut feeling as well. Normally, bidders in this type of situation keep stum, as they are supposed to, having signed a confidentiality agreement. TUST are singing from the rooftops, totally unprofessionally. Trying to attract the sympathy vote? Put pressure on others? Who knows, but it's not normal behaviour.

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