Potential Buyers

[CornishGull]

Tick Tick Tick, 17.00 has past. We await news. . . .

I'm wondering if Monday is actually D-Day. The extension of NOI was for ten working days and that period incorporated Good Friday and Easter Monday.

[TommyGunn]

I'm thinking that none of the bids were acceptable to the owner. The administrators will take over tomorrow and look to try to save the club??????

[knightmaregull]

Confirmation that the administrators have been appointed is what I am hoping for, as at least then somebody acting reasonably will select the preferred bidder. However, I remain very uneasy about that not having happened yet and fear a final sting in the tail from CO and chums. If any of the existing lot or those associated with them are announced it will be disastrous. We need this to be a landmark root and branch refresh, not more of the same.

[culmstockgull]

Confirmation that the administrators have been appointed is what I am hoping for, as at least then somebody acting reasonably will select the preferred bidder. However, I remain very uneasy about that not having happened yet and fear a final sting in the tail from CO and chums. If any of the existing lot or those associated with them are announced it will be disastrous. We need this to be a landmark root and branch refresh, not more of the same.

Be careful what you wish for, once the administrators are offically appointed then they have total control of the club ,not a penny can be spent without their approval, even down to small things such as buying fuel for the lawnmower, they can terminate contracts of people who may be considered too expensive and those people cannot sue the club but would have to join a long list fo creditors. oh, and they do not work for peanuts, the final bill will be in the many thousands and that will not be on osborne but on whoever acquires the club. I hope that a bid is approved and it has not yet be announced, I have worked for a large company that called in administrators, it took several months for them to finally leave and believe me it wasnt a positive experience

[hector]

Be careful what you wish for, once the administrators are offically appointed then they have total control of the club ,not a penny can be spent without their approval, even down to small things such as buying fuel for the lawnmower, they can terminate contracts of people who may be considered too expensive and those people cannot sue the club but would have to join a long list fo creditors. oh, and they do not work for peanuts, the final bill will be in the many thousands and that will not be on osborne but on whoever acquires the club. I hope that a bid is approved and it has not yet be announced, I have worked for a large company that called in administrators, it took several months for them to finally leave and believe me it wasnt a positive experience

That makes perfect sense what you are saying, although I share knightmaregull’s uneasiness around Osborne getting to decide who the buyers are and wouldn’t be surprised if there was a spiteful final slap from him to sell to either Edwards/Hayman/Masters which is more likely as he would consider these allies and loyal whereas his disdain for TUST and supporters in general has been obvious.

[Southampton Gull]

And if Edwards/Hayman are installed as owners does anyone seriously think anything changes? They're still Osborne lackeys and the club is still under threat. We'd be better with a Phoenix club than those two idiots.

[culmstockgull]

And if Edwards/Hayman are installed as owners does anyone seriously think anything changes? They're still Osborne lackeys and the club is still under threat. We'd be better with a Phoenix club than those two idiots.

I agree with your sentiments in so much as the edwards/hayman bid if they have made one joimtly seems the least attractive from a supporters perspective for all the obvious reasons,Osborne is purely a money man and I think the future of the club will be the last thing on his mind but totally about who makes the highest bid. As for a phoenix club I beg to differ, we have hugely underestimated the quality and organisation of teams in the national south this season and I have no reason to think with our out of date but consistent belief that we are a league club in waiting mentality we would not make the same mistake in what ever lower league we may find ourselves under the phoenix scenario, I assume we would apply for the southern league premier but acceptance is by no means a given as any one team ready for promotion could argue they have played by the rules all season and earned their promotion ,why should torquay take their place, so it may be that we could apply for a position in the western league but the same objections still apply, under the worst case scenario of a phoenix team we could fine ourselves without a league next season.

[desperado]

I understand the feelings towards Edwards but can someone explain why Mel Hayman is 'disliked' so much to put it mildly?
Apparently she is a poor accountant, I imagine it was Osborne / Edwards who negotiated Johnson, Downes and P. Johnsons etc contracts
I don't know anything about her , I know her father is a lifelong Torquay fan, remember him selling programmes at the ground in the sixties

[TommyGunn]

Now in Administration.


https://torquayunited.com/supporter-update-05-04-24/

[JimNichol'sdog]

If bids have been received why will it take up to a fortnight to decide which one to accept?

Presumably the administrators will now make the decision.

[culmstockgull]

The next stage has arrived in the appointment of administrators, begbie traynor have a really good reputation. I note that the club have stated that firm bids(plural) have been received although who they are remains unknown.
I have concerns with the only actual bid I know about, in that the TUST part of the bid seems to be totally dependant on raising 150K in a very short amount of time, unless the other parties in the consortium are covering that amount in the hope the TUST can realise their aim. If the former is true that this bid cannot be considered firm because it is down to issues outside of the TUST'S control, i.e what if they cannot raise the money, if its the latter then logically the consortium do not need the TUST to make a bid.

[happytorq]

I understand the feelings towards Edwards but can someone explain why Mel Hayman is 'disliked' so much to put it mildly?

From what I can tell it's being tainted by association. If you're involved with a regime that everybody hates, you'll be associated with that regime regardless of whether or not you try to be a moderating influence behind the scenes. The online fans forum that took place a few months back also made her look like an Osborne lackey.

i don't know her myself, but while she may be a die-hard TUFC supporter with the very best of intentions, her actions (or inactions) in the past few years do not show her in a good light. She could have resigned from the board, done an interview in the paper and then got behind a bid and people would probably welcome her with open arms - but she kept silent and complicit with the GI chicanery.

[leetufc]

If bids have been received why will it take up to a fortnight to decide which one to accept?

Presumably the administrators will now make the decision.

I would imagine there needs to be sufficient time to complete the relevant evaluation of the bids, due diligence on their claims and finances etc. Needs time to make sure any bid chosen actually stands up once the process is rolling

[hector]

From what I can tell it's being tainted by association. If you're involved with a regime that everybody hates, you'll be associated with that regime regardless of whether or not you try to be a moderating influence behind the scenes. The online fans forum that took place a few months back also made her look like an Osborne lackey.

i don't know her myself, but while she may be a die-hard TUFC supporter with the very best of intentions, her actions (or inactions) in the past few years do not show her in a good light. She could have resigned from the board, done an interview in the paper and then got behind a bid and people would probably welcome her with open arms - but she kept silent and complicit with the GI chicanery.

Added to this is the insinuation from Osborne that she works as a volunteer; why would you work for free unless you agree with what those running the club say and do?

[exilegull]

Added to this is the insinuation from Osborne that she works as a volunteer; why would you work for free unless you agree with what those running the club say and do?

Maybe because you can have more positive influence by sitting inside the tent than outside?