Torquay United Fans Forum

numpte wrote: ↑10 Apr 2024, 09:33 What on earth does George Edwards see in TUFC other than a big hole to sink more money into. Council position clear on the ground, fan position quite clear in being anti. That would have to be some spin job for him to take over and win anyone around anytime soon. Fans are fickle of course, put a winning team on the pitch.....

Will put my £500 aside for a few more years then.

I'm wondering if it means Osborne gets his money back as the debt is just transfered onwards to the next person????

Truro v Eastbourne tonight.

I'm expecting 3 points for Eastbourne.

Will put them 1 point behind us. I can see this going to the wire.

Who speaks for Torquay United and decides it's their prefered bidder? Is it not up to the administrators?

Torquay United AFC is pleased to advise its supporters that a preferred bidder to take over the Club has now been identified.

Following on from the announcement last Friday that Scott Kippax, Neil Vinnicombe and Simon Haskew of Begbies Traynor have been appointed as joint administrators of the Club, extensive work and discussions have been taking place behind the scenes over the past few days.

Out of the firm bids received by TUFC, one party has now been identified as the preferred bidder.

Although the preferred bidder will remain confidential at this stage, this news is the latest, and perhaps most significant yet, towards securing the Club’s long-term future.

We will continue to provide supporters with further updates as and when possible, however in the meantime, we would like to place on record our thanks to all bidding parties, the Club’s staff, National League, Sport England, Lloyds Bank, Club’s creditors and most of all our beloved supporters for their hard work, assistance, generosity and patience during the past two months.



https://torquayunited.com/club-update-p ... -selected/

Tonight

Braintree v Taunton
Dartford v Worthing

GULL 67 wrote: ↑08 Apr 2024, 22:20 Haven't seen many games this season!!! I've been to every home game except Dartford and every away bar about three. I stanld by what I have see from the opening game away to Dover, that at times it looked like we lacked heart on numerous occasions. I have been watchingTUFC since 1973 and have seen many poor teams but many that had the heart and desire to compete . I feel that this season I have not always seen this. Tonight I did.

Fans like you deserve a medal.

Archie Harris playing for them who was here on loan earlier in the season

Eastbourne are in play off form. I think they changed their manager at the start of the year and he has gradually turned it around. I think they will be fine.

I don't fancy our chances anymore. All the negativety around the club has had a depressing effect. Positive news was needed last week.

We must not lose to Taunton and I can see us needing to beat Havant final game. Where are the goals coming from? But will 4 points be enough for us?

AJW wrote: ↑05 Apr 2024, 22:19 From what I understand CO is the largest creditor by some distance. If he is not agreeable to doing a deal on his debt with a potential purchaser, the transfer of ownership will not be approved by the FA or the league. This means that often the only purchaser the administrators can proceed with is the one that offers CO the highest percentage of his debt.

The next problem is the National League who are tough to say the least in this situation. There first concern is to have 24 teams in each of the three divisions complete the season and not fold during the season. At the very least they normally seek a bond being given to the League to enable it to make good any loss to clubs by losing a home fixture ot travelling to a game, whose result is later expunged. Any bond is likely to be approaching, if not in excess, of a 6 figure sum. Who will pay this bond?

If the club does not meet any requirements laid down by the league, the likely outcome is expulsion from the league. Throughout the football period leagues seem keen to pass the problem of financially troubled clubs down to the next level below. Expulsion from the league, if is going to occur will occur at the AGM. The options are therefore to get a deal completed and approved by 19 June or find the money for a bond by 19 June. Getting any sale approved by that date is nigh on impossible. From my past experience Southern League football, or no football, arethe most likely outcomes.

Hopefully, a deal is virtually done in principle. This at least gives the club a fighting chance of avoiding expulsion from the league.

Personally I'd rather CO didn't get a penny and we start again at the bottom as a phoenix club. Thanks for the info.

I heard Plymouth parkway are playing Swindon at Hungerford.

I was rather worried to read posts on the non league forum saying that we may be docked more points if creditors are not paid. I found this in the rules part (e).

Transfer from Insolvency
2.9.2 In the event that any Club that is subject to an Insolvency Event resolves to transfer its
membership of the Competition to a new entity, the Board will use the following
minimum criteria in deciding whether or not to approve that transfer:
(a) The shareholders or members of the Club have voted to agree to the transfer of
the Club’s membership to the new entity and/or a licensed insolvency
practitioner(s) appointed to the Club has agreed to sell or transfer some or all
of the Club’s assets to the new entity;
(b) All Football Creditors in the Club must be Paid in Full and evidenced as such;
(c) The proposed new entity has provided financial forecasts to The FA and the
Competition showing its ability to fund the Club for the next twelve (12)
months or to the end of the Playing Season following transfer (whichever is
the longer) and that evidence of funding sources has been provided;
(d) The FA must have given approval for the transfer to take place; and

(e) All other creditors in the Club must be satisfied and evidenced as such (This
provision to be read in conjunction with 2.9.3 below.)
In the event that requirement (a) and/or (e) is not fully complied with, and only
where the Board, at its absolute discretion, deems there to have been
exceptional circumstances surrounding the application for the transfer, it may
approve the transfer (subject to compliance with all other provisions above)
and may apply such conditions as it deems appropriate including, without
limitation, the deduction of points.

Also I heard we could be relegated anyway by the national league unless creditors are paid before the AGM on 19th June????

Now in Administration.


https://torquayunited.com/supporter-update-05-04-24/

standupsitdown wrote: ↑04 Apr 2024, 21:17 Hemel 2.0 up v Truro.

Just what we din't need. 2 points out of 30 and then they go and win.

I'm thinking that none of the bids were acceptable to the owner. The administrators will take over tomorrow and look to try to save the club??????

Truro v Hemel tonight at Gloucester. I heard from Maidstone fans that there were 4 lights not working resulting in dark areas last night. They reckon some refs would have postponed the game.

Really could do with Truro winning this.