We own the ground, we don't own the land it stands on, to be pedantic.
Either way this mysterious bidder would probably flip the Plainmoor land for a prime development opportunity elsewhere in the Bay, thus giving Torbay Council the possibility of facilitating an expansion of Westlands and the developers lots of £ before they abandon the club/sell it on as soon as possible. I doubt there's much value in the Plainmoor footprint, well enough value to fund a new stadium and make a healthy profit. Unless the mysterious new ownership group is more altruistic like the 2007/8 consortium which I doubt given that Smurthwaithe hasn't been able to flog Port Vale.
good move all round, the person who wants to buy does have money and peter masters is not involved as far as im aware. if we are to move forward the current board needs to sell for the club to survive. and No i dont know the name of who the potential buyers.
ROADRUNNER wrote:good move all round, the person who wants to buy does have money and peter masters is not involved as far as im aware. if we are to move forward the current board needs to sell for the club to survive. and No i dont know the name of who the potential buyers.
If you don't know who it is, how do you know they have money? And if they do have money, it doesn't mean that they want to spend it.
I will reserve judgment until more details are known. In the meantime I would urge everyone to join TUST just in case it's a Chris Roberts Mk II.
i dont know the name of the gentlemen, he has contacts with torquay and he is a football fan not a property developer , this comes from a source that i cant name., sorry kit robin thats all i can tell you. and as for not spending money at the moment we have no money to spend .
Phillips says. "I would love all the fans to know exactly what was going on --- (thats kind of him) ---, but that's just impossible." Why is it impossible? What is there to hide? Its not like we a top premier league side - were in the relegation zone of the conference league - so why implement the Official Secrecy Act? Are ISIS buying us?
MellowYellow wrote:Phillips says. "I would love all the fans to know exactly what was going on --- (thats kind of him) ---, but that's just impossible." Why is it impossible? What is there to hide? Its not like we a top premier league side - were in the relegation zone of the conference league - so why implement the Official Secrecy Act? Are ISIS buying us?
Uh, maybe the prospective new owners have said they want it to stay private until complete. That would be a good reason.
Where Phillips is right is that he cannot divulge the name of any prospective owner, or any aspect of the deal. Where he is completely wrong is to say we couldn't be told anything.
For the story of a potential takeover to be broken on a fans forum, followed by a few mentions by Dave Thomas in his podcast last week and the BBC on Tuesday, is pathetic and shows how little grasp this current board has on the idea of communicating effectively with its supporters.
A short couple paragraphs on the official site saying "we are in serious talks about selling the club, we cannot say who or talk about the deal" would have been both the correct and professional thing to do. Unfortunately, although grateful to the board for a lot of good work, the area of communication with fans has been farcically bad all year. When you consider they are all real fans it make it even stranger!
The accounts for the club to 31st May are now available on-line. Over £3million is now owned to the holding Company,Plainmoor Ltd.
Does anyone know who Plainmoor Ltd actually is? Very worrying times as the takeover talks reach an advanced stage-will the new owners be providing loans to the club,or new share capital investment? If its the former we are up shit street.
Misleading isn't it, money put into the club was turned into share capital in plainmoor limited. Basically it means that £3m was investment not a loan. No one owes anyone anything, and the directors of plainmoor limited are the directors of Torquay United. Check companies house.
The key figure is the previous financial year (31/05/14) showed c.£1.3m owed to creditors and this now (31/05/15) stands at just £5k! This I presume (the published accounts are not particularly detailed!) is the money pumped in by Thea being written off. The club is indeed now virtually debt free.
Hopefully with a new owner coming in things can only get better and more organised, although the existing board has done well in keeping us a float.
Regarding Nico as manager, he has done well so far but if we are to progress i think we would need a fresh start with a new manager to try and get us back into the football league. I don't think the existing squad of players are going to help us achieve that so a new owner with fresh ideas and an injection of capital can only be good news.
Supp16 wrote:Hopefully with a new owner coming in things can only get better and more organised, although the existing board has done well in keeping us a float.
Regarding Nico as manager, he has done well so far but if we are to progress i think we would need a fresh start with a new manager to try and get us back into the football league. I don't think the existing squad of players are going to help us achieve that so a new owner with fresh ideas and an injection of capital can only be good news.
Like we had with this current board you mean? With Paul Cox!
No need to change anything on the 1st team front at this point in time. Nicho and the boys are doing very nicely.
Gary Johnson's Yellow Army! Yellow Army! Yellow Army!
[quote="Supp16"] Regarding Nico as manager, he has done well so far but if we are to progress i think we would need a fresh start with a new manager to try and get us back into the football league. I don't think the existing squad of players are going to help us achieve that so a new owner with fresh ideas and an injection of capital can only be good news. (quote)
Absolutely totally fully disagree with this. We have had so many 'Fresh Starts' which have turned out to be 'Fresh Failures'. What the club so badly needs is some stablilty. We said it had to get worse before it gets better and it did get worse when we hit rock bottom of the league. It is now getting better as Nicho - manager, player-manager, bus driver - drags us out of the mire we were in. The fact is, as has been pointed out many times before, the present squad is about the best we can afford. If we'd had this squad at the beginning of the season instead of some of the 'coasters' that Paul Cox brought in, we would be in no danger of being relegated. Whether we stay up or go down (and personally I am confident we're going to stay up which I didn't think possible three weeks ago), I hope Nicho is able to stay on, regardless who owns the club. No more 'quick fix' managerial changes, please !! Okay this may well be an exaggeration - but I can see Kevin Nicholson becoming Exeter's Paul Tisdale.
Have you watched the last 4 home games ? Kidderminster out played us in the 2nd half
Part time Braintree had more chances than us
Our only effort came in the last minute against part time Halifax.
If you can see Nico becoming the next Paul Tisdale after watching the last 4 home games HELP
