TUST Not An Option

Orange Gull · Post by **Orange Gull** » 31 Oct 2016, 16:44

Well that rules out any form of community ownership, for the time being at least. There are two other "firm approaches" on the table. Logical assumption would be that GI is one of these. Any ideas who the other could be?
http://www.torquayheraldexpress.co.uk/t ... story.html

MarkL · Post by **MarkL** » 31 Oct 2016, 17:03

A Mr P.Masters of Truro currently residing at TQ1?

gullpower · Post by **gullpower** » 31 Oct 2016, 17:56

Disappointing but not surprising. The board are short-sighted.

I hope Dave Phillips et al. know what they're doing. If they don't us fans could shortly be without a club to support and he'll go down in Gulls history for all the wrong reasons.

lucy6lucy · Post by **lucy6lucy** » 31 Oct 2016, 18:14

gullpower wrote:Disappointing but not surprising. The board are short-sighted.

I hope Dave Phillips et al. know what they're doing. If they don't us fans could shortly be without a club to support and he'll go down in Gulls history for all the wrong reasons.

What bookmakers does Phillips run?

Post by **Scott Brehaut** » 31 Oct 2016, 18:40

Given the complete state of things off the pitch, one can only surmise that the Board have no idea what they are doing.

PhilGull · Post by **PhilGull** » 31 Oct 2016, 18:44

lucy6lucy wrote: What bookmakers does Phillips run?

His own. An on course bookmaker at the horses and dogs. https://pointingdc.co.uk/2014/01/25/fea ... bookmaker/

TUST_Member_Rob · Post by **TUST_Member_Rob** » 31 Oct 2016, 18:56

Even as a TUST member i'm glad that option isnt being explored, it feels rushed and the financial footing is not in place yet.

As for the current board - David Thomas - has finally shed light (via 1 sentence) of the GI shambles

The loan now is described as OVER 6 FIGURES!!

http://www.torquayheraldexpress.co.uk/t ... story.html

How would we have that sort of £!

Plus any new buyer would surely have to take that hit at the start?

PhilGull · Post by **PhilGull** » 31 Oct 2016, 19:05

TUST_Member_Rob wrote:Even as a TUST member i'm glad that option isnt being explored, it feels rushed and the financial footing is not in place yet.

As for the current board - David Thomas - has finally shed light (via 1 sentence) of the GI shambles

[s]The loan now is described as OVER 6 FIGURES!![/s]

http://www.torquayheraldexpress.co.uk/t ... story.html

How would we have that sort of £!

Plus any new buyer would surely have to take that hit at the start?

It actually says "believed to run into six-figures" which is what we've always known isn't it? £100k has always been the number.

Post by **Southampton Gull** » 31 Oct 2016, 19:49

The only thing that will hold up a sale is if Phillips and Co try to hold out for a deal that gives them their initial investment back. I know of one interested party that doesn't view that as workable.

gullpower · Post by **gullpower** » 31 Oct 2016, 19:53

Southampton Gull wrote:The only thing that will hold up a salel is if Phillips and Co try to hold out for a deal that gives them their initial investment back. I know of one interested party that doesn't view that as workable.

I took it as read that that was the case. £30k each by the original 10 members of the board equals the "price of a detached house in the Bay" price tag that was given by Phillips.

TUST_Member_Rob · Post by **TUST_Member_Rob** » 31 Oct 2016, 20:04

PhilGull wrote: It actually says "believed to run into six-figures" which is what we've always known isn't it? £100k has always been the number.

50K was the long banded about figure, although its more like £125,000-£150,000

SenorDingDong · Post by **SenorDingDong** » 31 Oct 2016, 20:30

If it's more like £125-£150k then surely the McDonald transfer money should have covered a lot of that? Because it sure as hell hasn't been spent on the playing side of things!

S4fedr1ve · Post by **S4fedr1ve** » 31 Oct 2016, 21:26

As far as im concerned this was only ever the last resort so hopefully Mr Phillips is confident of a take over elsewhere soon. As for a Trust running a football club i look at the Exeter model. Yes they have been running the club for a number of years but on crowds over twice that of ours. The only reason they have not gone to the wall is due to cup runs and youth team sales. Neither of which we have.

Mike

TUST_Member_Rob · Post by **TUST_Member_Rob** » 31 Oct 2016, 22:10

SenorDingDong wrote:If it's more like £125-£150k then surely the McDonald transfer money should have covered a lot of that? Because it sure as hell hasn't been spent on the playing side of things!

remember half of that will have gone to Thea

gullpower · Post by **gullpower** » 31 Oct 2016, 23:22

S4fedr1ve wrote:As far as im concerned this was only ever the last resort so hopefully Mr Phillips is confident of a take over elsewhere soon. As for a Trust running a football club i look at the Exeter model. Yes they have been running the club for a number of years but on crowds over twice that of ours. The only reason they have not gone to the wall is due to cup runs and youth team sales. Neither of which we have.

Mike

But there is nothing to say we could not also have these if the club was run in a more sustainable way.

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