Gaming International have taken our club hostage

[Gullscorer]

Actually maybe all is well as the OS is advertising the Boxing Day match menu!

The menu not the match..

[Plainmoor78]

Actually Matt's post doesn't reveal anything at all, and from his opening sentence "Look there is only so much I can say..." I suspect he has constructed a parody of all those posts where the author claims to have inside information but rather conveniently can't reveal their source. I suspect Matt is having a quiet chuckle to himself just now.

[nickbrod]

Or read today's HE online to see that all other interested parties (were there any?) have disappeared and so step in GI/Masters who have already drawn up a new look board and "other staff changes".

[gullintwoplaces]

Or read today's HE online to see that all other interested parties (were there any?) have disappeared and so step in GI/Masters who have already drawn up a new look board and "other staff changes".

This key sentence is buried in an article about TUST. Oh dear, this doesn't look great. http://www.torquayheraldexpress.co.uk/t ... story.html

[gullpower]

2) Why would it be GI if they get the club at the end of January anyway if no new owners are found?

Christ, waiting for Friday was bad enough without this lot!

Because they will look good, appease the fans and get less agro from them while they go about their sullied business.

Join TUST. Dream in yellow.

[Richinns]

I am struggling to understand why people cannot grasp the fact GI will not be buying the club at this point rather than having it default to them early. The reason is very obvious. The club simply cannot currently carry on financially to reach this January deadline. It is a choice of give the club over now or have no club at all.

A sad state of affairs where we have to rely on GI to pay these bills in order to carry on. We are now fully dependent on them playing ball - and even if they do - what lies ahead at that point is likely to be very frightening for fans of the football club.

[Gloomy Gull]

Maybe there will be a combination i.e. GI or Masters buy the club through a pre-pack Admin? Masters would have to do that through a Company that he has no direct involvement in.

"Pre-pack administration is an insolvency procedure in which a company arranges to sell all or some of its assets to a buyer before appointing an administrator to facilitate the sale."

That would cover both scenarios (administration and new ownership), but would lose us x number of points and allow GI/Masters to pick up the club cheap and with minimal/no debt as the New Co. would buy assets only.

Not sure how that may fit with the agreement that the club ownership reverts to GI by end of Jan?

[kerswellgull]

What happens to season tickets in the event of administration ?

[Jerry]

What happens to season tickets in the event of administration ?

Administration isn't liquidation.

Clubs continue to play games and operate as usual in administration.

[Jerry]

So if there is indeed some kind of swap deal between GI and Masters surely this isn't the death knell that many are suggesting.

If Masters was interested in a property deal why would he give up the one he already has in place at Truro for the vague possibility of a future one in Torquay?

Couldn't he just have realized that Truro FC have no potential with their paltry gates and just want to move on to a club with better prospects?

If he is coming in to run the club as a football club then it can't be worse than the current shambles can it?

Or am I just being naïve?

[nickbrod]

New people doing the day-to-day running of the club plus new football management on the cards. Steve Tully here soon?

[Richinns]

New people doing the day-to-day running of the club plus new football management on the cards. Steve Tully here soon?

That would really put the new owners on a great footing with the fanbase who already think very poorly of them. However - I fully expect them to do something such as this (whether it is Tully or Harrop or someone else). They care little for us and it is all business (and the complete lack of any interaction from anyone at GI throughout this process shows this clearly).

The clubs current board has recently strived and explored many options in order to get away from these characters after initially claiming they would be "very good for the club and the fans will be pleased". You only have to review this to realise how much they have been duped in the initial stages of negotiation - and how the realisation has hit home as the months have gone by. They have been sold a pup which is now coming back to bite us all in the arse. Truth is since those loans were taken this was always the likely result as no other investor would touch us with these hanging over our heads.

[arcadia]

I still think it's one of the early runners and they want to keep a low profile in case anything goes wrong. I heard one name and it could be still that midland group and hope it is.

[happytorq]

Like Bon Jovi said "you gotta keep the faith"
Go you yellows

Bon Jovi also said 'Living on a prayer" which seem a lot more apropos.

[Bloggy]

Bon Jovi also sang "woh-wo-woo-whaa" which makes as much sense as the current takeover situation.