Torquay United Fans Forum

merse btpir wrote: ↑26 Apr 2018, 11:31 Those Exeter City owners didn't 'fleece their creditors'; those creditors were owed money by the previous administration.....

It's exactly what we would have to do if faced with a community/trust ownership in the future because if they refused or declined to do that then the FA would not permit them to own Torquay United.

Trusts do not exist ~ nor are permitted ~ to underwrite the losses of the club ownership. It's not within their legal remit under the Community Benefit Society legislation.

Supporters’ Trusts are typically constituted as Community Benefit Societies (CBS), a form of Co-operative that operates under a one-member one-vote principle. CBS’ are registered with the Financial Conduct Authority (FCA), and any changes to their rules must be approved by the members and only become effective once the FCA has agreed them, checking they are in keeping with the spirit of the organisation. The members own all assets and liabilities collectively, and any profit made is either kept as reserves or reinvested to meet its objects. They are not charities and whilst they contain the word ‘Trust’ they do not follow the legal definition of a ‘Trust’.

Exeter City's and Torquay United's trusts are two of over 200 supporters trusts in the UK, with more than 50 now owning and running their clubs*. Many others have meaningful involvement through board representation, structured dialogue or campaigning as TUST is endeavouring to do. Over the country, trust members have raised more than £50 million to be reinvested back into their clubs and communities including £6 million through community shares projects. Supporters Direct use their unique position to develop policies and research to help each and every individual trust as well as generally improve sport and they in themselves are owned by the many different supporters trusts and community owned clubs.

* ‘supporter ownership’ (or similar phrases like ‘community ownership’) means that;

- A minimum of 50% +1 of the voting rights of the Club are controlled collectively by a democratic entity which has an open and inclusive membership
‘Democratic’ to mean the membership of the entity to work on a one member one vote principle
‘Inclusive’ to mean that there are no substantial barriers to participate as a voting member, with membership open to all that are sympathetic to the aims of the Club
Any profits are reinvested back into the Club as opposed to being distributed to shareholders.
The Club is committed to running as a sustainable business.
It’s not to say that other forms of ownership don’t work and should be ignored, but research suggests that Community Ownership opens up a number of benefits to a Club that are much harder to achieve or not possible to achieve in a privately owned Club.

Plainmoor78 wrote: ↑20 Apr 2018, 20:57 I believe the rent on plainmoor is in the region of 16k pa.
Unfortunately although you like parking away from the ground and then walking up to it, for many people the lack of parking is a negative. I would have attended far more games at plainmoor if I thought there was easy parking to be had.

portugull wrote: ↑03 Feb 2018, 20:42 gullpower Gosling did not play. He was on the bench but played no part.