Torquay United announces board appointments

Local-Gull · Post by **Local-Gull** » 05 Dec 2018, 17:48

kerswellgull wrote: ↑05 Dec 2018, 16:42 Why is he continuing to plough money in ?

Is the money he is ploughing in not just a loan upon a loan?
If he doesn't get his way with regards to the new stadium etc - could/would he not just recall all the loan money owed to him .. plus interest? =Z

Porky · Post by **Porky** » 05 Dec 2018, 18:26

He can plough in loan after loan but if things dont go his way and he pulls out, who is going to pay it back?
He can close the club I guess and he will be in the same position as thea, left with nothing. Maybe he is fattening the goose to sell on and then he may have a chance of realising some of investment/loan (delete as necessary).
I tell you what though if him gj and his mate George do turn it around with the hoped for back to back promotions then he may have a chance of taking some of the supporters with him in his stadium venture. I'm mystified as to what the end game will be.

PhilGull · Post by **PhilGull** » 06 Dec 2018, 10:32

kerswellgull wrote: ↑05 Dec 2018, 16:42 Of course there is extreme scepticism about Osborne's motives, based on past history
But the questions no one answers is
Where would the club be if he hadn't taken over ?
Why is he continuing to plough money in ?

The answer to the first question is, no one knows. Where would we be if the previous board hadn't taken over Or the one before that? Or the one before that?

As for the second question - the answer is, he isn't! As I understand it CO is giving loans to the club. As a result the club is worthless yet impossible for anyone else to buy. We need to get back to the Football League as soon as possible so that he can start getting paid back. As things stand if CO walked away now it would cost millions to take the club off his hands just to pay those debts back.
The previous board have a lot to answer for, letting CO in.

standupsitdown · Post by **standupsitdown** » 06 Dec 2018, 14:58

He could call in the loan money but it isn't there. It has been used to cover trading losses. The club has virtually no assets so all he could do is fold it and get back a small proportion of what he's put in.

kerswellgull · Post by **kerswellgull** » 06 Dec 2018, 15:49

So why would he do it?

Post by **Southampton Gull** » 06 Dec 2018, 16:13

To get hold of some land for building purposes if his previous is anything to go by. That's his MO which is why it's vitally important he doesn't get his hands on the freehold. I see that as key to him obtaining land elsewhere and in similar fashion to Swindon speedway there will be buildings for sale long before any stadium is built. Reading speedway came off even worse as RJC70 will testify to.

Launceston Gull · Post by **Launceston Gull** » 06 Dec 2018, 19:02

Fact is no one on this forum is in Osborne`s inner circle so no one here knows whats in his mind. We can speculate that he wants to acquire the freehold of Nightingale Park to build houses on under the guise of building a new stadium for the Gulls which will never be built whilst also acquiring the freehold of Plainmoor to level and build more houses. But here`s where the "Plan" comes apart, Osborne requires Council approval to acquire both sites and planning permission from the Council to build anything anywhere and he`s not getting it. Read the rather excellent report by Kevin Foster MP of his discussion with Osborne 28 August when this was spelled out to him and seems to have come as a surprise. Osborne has been "buttering" up the Mayor for 2 years only to learn he`s not "The Man" to get his scheme over the line. It may be that Osborne has miscalculated the position and is now between a rock and a hard place. Maybe selling the Club to a wealthy benefactor is his backstop and a league club may be a more attractive prospect for a potential buyer than an NLS side and thats why he`s ploughing money in to build a promotion winning side.

Post by **Southampton Gull** » 06 Dec 2018, 19:17

Nobody has ever said they do know. What we all have to go on is his long history of never having delivered on promises of new stadia. Yes he might well be everything he says he is to us. Somehow I don't buy it so for now I'm enjoying a respite in the downward spiral but not stupid enough to think we've ended the darkest period in our history.

Let's hope the council remain strong enough to spurn any advances he makes UNLESS they are of benefit to us and the community and any agreement is rock solid.

Launceston Gull · Post by **Launceston Gull** » 06 Dec 2018, 19:59

I hope the Council do right by us too Dave. One thing I think we may all agree on is that at some date in the future when events have unfolded, someone on this Forum who has has expressed an opinion will be able to say " I told you so"

Post by **Southampton Gull** » 06 Dec 2018, 20:21

Nothing would give me greater pleasure than someone saying that to me proving my view was false. I'd give anything to get back to League Two mediocrity with us all united behind the club. I remember thinking back when Martin Ling was sacked that we would reap the punishment of that decision. I even said we'd plummet this far down, I wish I was wrong back then like I hope I'm wrong now but this feels like a false dawn rather than a rebirth of the club. Does a leopard change his spots?

MellowYellow · Post by **MellowYellow** » 06 Dec 2018, 20:42

Launceston Gull wrote: ↑06 Dec 2018, 19:02 Fact is no one on this forum is in Osborne`s inner circle so no one here knows whats in his mind.

This is true. However, this should not detract from the 'point of fact' of him never delivering on his stadia promises, and just like the fact that a duck's quack doesn't echo... no one knows why!

greb46 · Post by **greb46** » 06 Dec 2018, 20:44

There's no such thing as a free lunch and whilst it's so good to have some positivity on the pitch at least, there still remains an alterior motive and a multi millionaire doesn't become one unless he sees pound signs in front of his eyes so I'd be very surprised if the leopard becomes a pussycat.

Wolborough · Post by **Wolborough** » 06 Dec 2018, 21:39

Would be wonderful to consider that CO had an Epiphany and was converted to really wanting to see Torquay do well!

Post by **Southampton Gull** » 06 Dec 2018, 22:05

Wolborough wrote: ↑06 Dec 2018, 21:39 Would be wonderful to consider that CO had an Epiphany and was converted to really wanting to see Torquay do well!

Become a football fan? Wouldn't that be great? He might even start attending

Local-Gull · Post by **Local-Gull** » 07 Dec 2018, 08:15

greb46 wrote: ↑06 Dec 2018, 20:44 There's no such thing as a free lunch and whilst it's so good to have some positivity on the pitch at least, there still remains an alterior motive and a multi millionaire doesn't become one unless he sees pound signs in front of his eyes so I'd be very surprised if the leopard becomes a pussycat.

That sums everything up in a nutshell!
CO hasn't "invested" in TU to lose money - he has put money in to make money to take out, that's how business men survive!
Sooner or later he will surely realise that the money he is putting in is lost forever unless he takes some drastic action - what that will be and when it happens we can only surmise.

One carries out an "investment" to make money, be it on the stock market or by purchasing material items as is the case here.
The continual money in will need to provide a source of money out soon, our worry is when and how!

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