[OS] FAQs – Updated 24/02/24

[TorquayFans.com]

Following the announcement of the TUAFC’s intention to appoint administrators, the Club have released & answered a number of FAQs, which will continue to be updated throughout this process. Although no list of Frequently Asked Questions will ever be completely exhaustive, the intention is for this list to be updated as and when required, in order to keep our supporters in the loop throughout the process.   Who is running the Club whilst a new owner is being sought? During the interim period, TUAFC directors George Edwards and Mel Hayman will continue working for the Club on a voluntary basis, ensuring Torquay United AFC continues to function as a professional football club, and to help facilitate the smooth transition of TUAFC to a new owner. Once again, supporters are reminded that donations are going towards operating expenses of the Club.   What does the term ‘administration’ mean? When a company or Football Club can no longer pays its bills, the company can enter administration for its protection. In administration, all control of the company is passed to an administrator. Essentially creditors can’t take legal action   What is the aim of administration? The process is to find a new owner/owner(s) to save Torquay United Football Club   Will the club be able play football and finish the season?  It is business as normal, as the Club is actively seeking a sale   What are the punishments for the club for going into administration? Currently the club is not in administration, it has filed with the courts a Notice of Intention to appoint administrators. However, if the Club enters administration, then sanctions for the Club are a ten-point deduction and a transfer embargo   What happens to money generated from yesterday onwards? All funds donated towards TUAFC will go towards paying essential operating expenses to facilitate ongoing trading. Donations can be made HERE. The Club would like to place on records its sincere thanks for all donations made – large or small, they are all gratefully received   What will happen to club employees ?  The Club’s aim is to find a buyer, and an onward sale would then see employees transferred to a new owner of the business, with their existing contracts.   I’m interested in buying the Football Club – how do I find out more? Any parties who would like to express their interest, are requested to email [email protected]The post FAQs – Updated 24/02/24 first appeared on Torquay United.

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