Torquay United Fans Forum

RobinStubbsHero wrote: ↑01 May 2024, 16:40 Brodrick was a problem in the original offer. The guy couldn't keep his mouth shut.
And he's still mouthing off today!!

RobinStubbsHero wrote: ↑01 May 2024, 17:15 Because they have insufficient funds to get anywhere near a successful bid. Publicity seeking only.

Gulliball wrote: ↑01 May 2024, 11:56 So the previous preferred bidder has pulled out or couldn't prove funds, and this consortium is next in line and taken over as preferred bidder in the last week.

I think it's positive news. Or certainly in a world of everyone else has pulled out and the AGM is five weeks away, it's this or potentially no club.

People called it a TUST bid, but it really isn't. It's a consortium of fans, the leader of which I understand is a millionaire. They offered TUST a chance to 'buy in' for a seat on the board, which in terms of fan engagement seems pretty positive, and TUST backed the consortium's bid (others weren't public so would be harder to back).

They also didn't say we would be part time, they said it was an option. Which seems sensible at that stage (they werent even preferred bidder at that stage) not to commit or over promise before knowing all facts.

Certainly given what we have been told, a consortium of rich fans seems pretty positive for the future. Everyone dreams of a millionnaire signing cheques and bankrolling the club, but it seems that wasn't on the table (or the previous two times the club was for sale).

Admiral wrote: ↑10 Apr 2024, 17:06 Most likely bollocks, but I’m told one bidder is James Watt, Brewdog. Previously pulled his bid before administration due to an outstanding 500k Covid loan that has now been written off.

Mysonjackg wrote: ↑10 Apr 2024, 17:06 Ok.. I will repeat myself for one last time as I am obviously not articulating myself very well.. To a certain extent this is somewhat of a pointless discussion anyway if the TUST / Consortium bid is off the table. But should it come back on again if the preferred bidder decides not to proceed, it is important to clear this up:

1 - Where has anyone said that £150k would be sufficient to cover expenses for the season? Of course it isn't. The £150k was a fundraising proposal to raise capital alongside that being injected by the Consortium in order that TUST had a share in the bid. As long as other funds were being injected then this would provide the necessary assurance with the TUST capital then being raised over the coming weeks. Of course there is no guarantee that funds would have been raised to that extent, but they do have a certain amount of available capital to initially inject anyway and I am sure the "astute" business people preparing the bid will have made provision for this. Let's be honest, for a long time it has not been clear there was anyone else commiting a bid and therefore at least the TUST and the consortium were willing to step up and try to do something. If another bidder with deeper pockets has come along then happy days!

2 - What confidentiality clause are you talking about? Have you seen any of the Non-Disclosure Agreements that may or may not have been signed? Since when has it been a state secret to announce you are bidding to buy something? I am sorry, but I take issue with you over this and feel strongly that you are doubting the intergity of the people behind the bid and TUST. If you are an organisation that has 850+ fans of the club as members who are paying subscriptions then you have to keep them updated. I would want to know where my money is going - wouldn't you?