New Owners - Soon?

[Orange Gull]

Here's your announcement.
http://www.torquayunited.com/news/artic ... 44290.aspx

[Tarrboy1]

Ok, its positive that they have reached an agreement. Well done the board. I hope the deal is as good as can be expected in the circumstances.

Agreement "subject to contract" is pretty standard stuff and one would hope that most of the DD work has already been done, as the purported 16 days doesn't give the new party much time if they're starting from scratch.

Fingers crossed but I'm not counting any chickens yet.............

[Orange Gull]

We've been here before so I'll be cautiously optimistic until the deal is definitely concluded. I assume this is the Midlands consortium, hope they have deep pockets.

[midtable]

Lets hope the board have at least googled the people involved in the purchase of the club. It sounds daft but nobody did it with Chris Roberts. He had Plainmoor in his grasp and it was only then that his story of riches unraveled yet alone his claim of being a good player.
Strangely, at least with Masters you know he has seen the club play. If it is a group of Midlands fans great but if not trying to extract a profit from the ex Launa Windows stadium will be painful for everyone.

[Plainmoor78]

I won't hold my breath until its definite. But before anyone gets carried away, we do not even know who these people are or what they want the club for.

[brucie]

Look stop worrying, Dave Phillips has always said that he has Torquays best interests at heart.

That's why he almost sold us to GI. So whats there to worry about...... : :}

[Gullscorer]

Hmm.. Sale agreed subject to due diligence. We've heard that before, and look how it turned out: the buyers backed out because they couldn't get their hands on the ownership of the ground from the council, but will still get the club if the club doesn't repay its debt to them..

And now: an even more tangled web? Or the dawn of a wonderful new era? Will I be able to get to the pharmacy before it closes?

[Plainmoor78]

The lack of due diligence concerns me. Thea Bristow was advised by her financial advisors to get out of the club. The current board, or rather the original Dean Edwards consortium, were told by their financial advisors not to touch the place with a barge pole. What's changed to make the club an attractive proposition?

[happytorq]

The lack of due diligence concerns me. Thea Bristow was advised by her financial advisors to get out of the club. The current board, or rather the original Dean Edwards consortium, were told by their financial advisors not to touch the place with a barge pole. What's changed to make the club an attractive proposition?

"due diligence" can mean anything. It could simply mean "we've been told the club up shit creek, we need to make sure the paddle we're bringing is going to be big enough". To me it reads like a step where they need to make sure they're going in eyes open without any surprises the current board have kept from them

[Southampton Gull]

GI with Masters running the show.

Countdown to the freehold being bought and then the locals of Plainmoor not having to worry about losing their parking spots on matchday any more.

[yellowblackwhite]

I think a little bit of calm and general breathing wont go a miss, I like many are potentially ecstatic by the news but a done deal is not a done deal until signed... after all it could be a bunch of North Koreans... although not sure how that compares to the current regime :S

[yellowblackwhite]

The lack of due diligence concerns me. Thea Bristow was advised by her financial advisors to get out of the club. The current board, or rather the original Dean Edwards consortium, were told by their financial advisors not to touch the place with a barge pole. What's changed to make the club an attractive proposition?

The simple fact that Dean Edwards is not involved is a plus point... A good start at the very least...

[nickbrod]

It's been GI/Masters since day 1. What's changed?

[lucy6lucy]

It's been GI/Masters since day 1. What's changed?

Unless SG, roadrunner can confirm. The truth is no one knows who is taking over. Why would GI take the club over, when it's theirs for free at the end of January?. If Norman from port vale allegedly can't because of his interests at port vale, then how can masters at Truro. I appreciate the nervousness, but the negativity from today's announcement (and we have slated the board for being quiet) is a tad unfair.

[Richinns]

Unless SG, roadrunner can confirm. The truth is no one knows who is taking over. Why would GI take the club over, when it's theirs for free at the end of January?. If Norman from port vale allegedly can't because of his interests at port vale, then how can masters at Truro. I appreciate the nervousness, but the negativity from today's announcement (and we have slated the board for being quiet) is a tad unfair.

Playing devils advocate here (as I am reading between the lines without knowing this to be true ) but perhaps the club can no longer afford to carry on without defaulting to GI and perhaps GI and Masters are very cosy as they have a common interest which is the land Plainmoor sits on.

Perhaps the future of the club now lies in Torbay Councils hands and the worse the tenants performance the easier it will be for an unpopular decision (in our eyes) to be made.