Osborne Sells Up..... To Masters?

desperado · Post by **desperado** » 16 Mar 2018, 11:02

You would think that he would at least put in an appearance at Plainmoor once every month or two
even if he cant get to every game
He cant live more than an hour and a half away. Perhaps he plays golf on a saturday afternoon

westyorkshiregull · Post by **westyorkshiregull** » 16 Mar 2018, 11:39

Doubt it's golf with the weather. Maybe been playing bridge at his local rotary club

torregull · Post by **torregull** » 16 Mar 2018, 14:09

Or using his Arsenal season ticket?

Yorkieandy · Post by **Yorkieandy** » 16 Mar 2018, 14:48

Or sat as his writing bureau ala Shakespeare, concocting press releases borne out of fantasy in an attempt to persuade fans that next season he means business?

Seems to be working with some so looks like time well spent.

DB577 · Post by **DB577** » 16 Mar 2018, 16:20

No, I reckon he is a golfer, has the look of a shanker about him.

Teigngull · Post by **Teigngull** » 16 Mar 2018, 16:55

Yorkieandy wrote: ↑16 Mar 2018, 14:48 Or sat as his writing bureau ala Shakespeare, concocting press releases borne out of fantasy in an attempt to persuade fans that next season he means business?

Seems to be working with some so looks like time well spent.

Can't pass any comment or opinion on next season as it hasn't happened yet,
If the sound bites are to be believed, we should be up there.

nickbrod · Post by **nickbrod** » 16 Mar 2018, 18:46

westyorkshiregull wrote: ↑16 Mar 2018, 11:39 Doubt it's golf with the weather. Maybe been playing bridge at his local rotary club

That's a bridge too far.

Tired Old Gull · Post by **Tired Old Gull** » 21 Mar 2018, 10:04

While we quietly slide into oblivion - Southport have mega-plans for a revival.

http://www.thenationalleague.org.uk/sou ... the--48097

merse btpir · Post by **merse btpir** » 29 Mar 2018, 10:02

For those of you still complacent in the comfort of 'at least Osborne's paying the wages and footing the bills'; Torquay United AFC's financial statement for the year ending 30h June 2017 is now on the Companies House beta website........

The amount owed to Riviera Stadium Ltd as of that date was £455,000. I wonder what it is now some nine months later?

Also note that the sole director of the company ~ Clarke Osborne ~ has opted not to include profit and loss details in the financial statement...you bet he hasn't!

merse btpir · Post by **merse btpir** » 29 Mar 2018, 11:05

Losing £5,841 a week or £834 a day; that's a whole lot better than the two grand a day the club was losing under Bill Phillips working for Thea Bristow then isn't it!

But as 'foreseeable future' and 'reasonable expectation' infer in that Companies' House report; nothing is set in concrete, and nothing will be forever and the implication of the need to be self-sustainable has to be taken with the utmost seriousness.

It says that the financial support will continue for the whole of this season and 'into 2018-19'; no mention of anything beyond that and not even for the whole of next season ~ dangerous times!

TorquayDNA · Post by **TorquayDNA** » 29 Mar 2018, 11:54

Bang on Merse. Although I can't see the figure of £455k? As far as I can see, there is £360,000 now due to Rivera Stadium LTD from The Torquay United Association Football Club LTD. RS owes this amount to GI, so for argument's sake we might as well say that TUFC owes it to GI.

So, far from bankrolling the club Osborne is merely plunging it further into debt. Make no mistake, if the guy decides to sell the club he will ensure he gets his money back at the very least (which of course he is entitled to do, it's all within the law etc etc... But it would probably mean the end of Torquay United as we know it as I can't imagine anyone will want to pay minimum £360k and counting for TUFC sadly!)

This figure is, of course, climbing all the time as the club continues to haemorrhage cash. As Osborne pours in more cash, so he adds to Riviera Stadiums debt list. That financial statement is up to 31 March 2017, so in just over 1 year of ownership he has racked up £270k which is owed by the club (assuming the initial £100k which he used to poach the club with is including the total figof £370k)

PS Merse - very few SME's reveal P&L data on Customs House declarations because they're not required to, so that's not unusual

For me, the end of any optimism has come with the announcement yesterday on Devon Live regarding the training ground. I know I've previously held sceptical views on the reality of Osborne putting himself to all this trouble over the land at Plainmoor which Merse and others have gone to great lengths to reason with me. But I hadn't taken into account the training ground.

The training ground itself is just outside of the NA1 Houghton Barton development boundary (it runs up to the other side of Howton Lane) but I can't imagine that's too much trouble for a property developer who knows his onions.

Of course, I don't know who actually owns the land that the training ground sits on... Does anyone else know?

I haven't been on this site for a while for various reasons but it seems that even people like me who try to see the best in everything have to face the reality that there isn't much hope at all for TUFC anymore... Certainly whilst Clarke Osborne is the owner.

The list of Gaming International's subsidiary companies is a bleak one indeed - a series of dissolved companies and dreadful credit ratings, except for Riviera Stadium and Poole Stadium (which is in good trading health but has non-disclosed liabilities of £1.6m... hmmm). Interestingly, GI has an unbelievably healthy acid ratio - almost 9:1!! Due of course to the huge assets (debtors such as our beloved TUFC).

*Sobs*

Bae gull · Post by **Bae gull** » 29 Mar 2018, 11:59

Not also the debt is "unsecured"

merse btpir · Post by **merse btpir** » 29 Mar 2018, 12:07

TorquayDNA wrote: ↑29 Mar 2018, 11:54 For me, the end of any optimism has come with the announcement yesterday on Devon Live regarding the training ground. I know I've previously held sceptical views on the reality of Osborne putting himself to all this trouble over the land at Plainmoor which Merse and others have gone to great lengths to reason with me. But I hadn't taken into account the training ground. The training ground itself is just outside of the NA1 Houghton Barton development boundary (it runs up to the other side of Howton Lane) but I can't imagine that's too much trouble for a property developer who knows his onions. Of course, I don't know who actually owns the land that the training ground sits on... Does anyone else know?

The training ground is owned by a local farmer and you can catch up on the latest regarding it on this link:
http://thelondonlabia.proboards.com/thr ... ip?page=84 ~ yesterday at 11:38am.

Amazingly, that under Simon Baker, Bill Phillips and Thea Bristow the club never had a formal lease for this facility but instead blundered on investing money in infrastructure with nothing more than a 'gentlemens' agreement' in place! It was the board of Dave Phillips with Steve Breed who finally got a lease for the club.

Actually; the training ground is located on either side of Howton Lane with one pitch within the NA1 Houghton Barton development boundary and the other two plus the changing & physio rooms set in Portakabins on the other side.

TorquayDNA · Post by **TorquayDNA** » 29 Mar 2018, 12:23

OK thanks for the update Merse, I can't seem to get onto the site for some reason right now but will check it out.

Ah OK, I wasn't 100% sure which part of the Seale Hayne pitches constitute the training ground for TUFC so thanks for clarifying. Used to play there myself as part of a school ground share agreement!

Jerry · Post by **Jerry** » 29 Mar 2018, 12:27

TorquayDNA wrote: ↑29 Mar 2018, 11:54
So, far from bankrolling the club Osborne is merely plunging it further into debt. Make no mistake, if the guy decides to sell the club he will ensure he gets his money back at the very least (which of course he is entitled to do, it's all within the law etc etc... But it would probably mean the end of Torquay United as we know it as I can't imagine anyone will want to pay minimum £360k and counting for TUFC sadly!)

So how will he get his money back?

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