What happens next?

divingbboy · Post by **divingbboy** » 25 May 2015, 22:29

That's very encouraging news. I have a lot of time for Dean and, in fact, have been led to believe that he has been known to go above and beyond the call of duty when it comes to the club.

Burnhamgull · Post by **Burnhamgull** » 25 May 2015, 23:24

tomogull wrote:Yes - excellent news. Even though I'm not a member yet, I for one hope that there will be some sort of parnership with TUST so that as you say, Steve, everyone is working for the good of the football club.

Sign up then......what's stopping you? :na:

Neal · Post by **Neal** » 26 May 2015, 07:15

The best news is that they seem to be local people, and in my opinion this is better than the size of their wallet

Dave_Pougher · Post by **Dave_Pougher** » 26 May 2015, 09:09

Neal wrote:The best news is that they seem to be local people, and in my opinion this is better than the size of their wallet

Post by **SuperNickyWroe** » 26 May 2015, 12:26

New press release....

Hopefully good news!!!

http://www.bbc.co.uk/sport/0/football/32882090

Gullscorer · Post by **Gullscorer** » 26 May 2015, 12:36

I agree with Tomogull. It would be nice if the two or three different groups of bidders could, instead of competing against each other for control of the club, join forces and, jointly with TUST, run the club together. Whatever the details of such a set-up, together we would be unstoppable!

Fonda · Post by **Fonda** » 26 May 2015, 12:49

"They've made a bid. We're waiting for the money to arrive in our account," acting chairman Bill Phillips said.

What a brilliant quote.

Post by **SuperNickyWroe** » 26 May 2015, 12:52

Fonda wrote:"They've made a bid. We're waiting for the money to arrive in our account," acting chairman Bill Phillips said.

What a brilliant quote.

Typical Phillips......

Post by **Scott Brehaut** » 26 May 2015, 13:49

Am I understanding this correctly? Thaea gives the current Board 80% of her shares for 1p, and they then sell them on for whatever they want?

Seems like only one person is getting screwed out of this.

Gullscorer · Post by **Gullscorer** » 26 May 2015, 13:57

Did Thea give her shares to the other directors, or to the club? There is a difference.

Post by **Scott Brehaut** » 26 May 2015, 14:13

Gullscorer wrote:Did Thea give her shares to the other directors, or to the club? There is a difference.

IT can be confirmed that today Thea Bristow has transferred 80% of her Plainmoor Limited shareholding, which controls Torquay United, over to a group of existing Torquay Directors for a pound.

Source: http://www.torquayunited.com/news/artic ... 68109.aspx

RoadGull · Post by **RoadGull** » 26 May 2015, 17:58

Fonda wrote:"They've made a bid. We're waiting for the money to arrive in our account," acting chairman Bill Phillips said.

What a brilliant quote.

Surely then that means that the current Directors have accepted the bid from ??? - otherwise why would any money be paid into their (the clubs?) account. You don't transfer money into an account unless the bid has been made and accepted and you've bought something.

Post by **happytorq** » 26 May 2015, 20:03

RoadGull wrote: Surely then that means that the current Directors have accepted the bid from ??? - otherwise why would any money be paid into their (the clubs?) account. You don't transfer money into an account unless the bid has been made and accepted and you've bought something.

It could feasibly be a 'bond' that states intent. It's easy to say "hell yeah, I've you £200k for Torquay United" if you don't actually have to pony up. I'd expect that any prospective buyer will have to deposit a certain sum (maybe 10%, although Im essentially pulling that out of my backside) to demonstrate serious intent as well as some level of financial commitment and ability to pay.

Post by **Southampton Gull** » 26 May 2015, 20:30

A lot of room in your backside

A Realist · Post by **A Realist** » 26 May 2015, 20:55

happytorq wrote: It could feasibly be a 'bond' that states intent. It's easy to say "hell yeah, I've you £200k for Torquay United" if you don't actually have to pony up. I'd expect that any prospective buyer will have to deposit a certain sum (maybe 10%, although Im essentially pulling that out of my backside) to demonstrate serious intent as well as some level of financial commitment and ability to pay.

This is a very likely scenario. It could also be that they would deposit a % to ensure preferred bidder status.

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