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That's very encouraging news. I have a lot of time for Dean and, in fact, have been led to believe that he has been known to go above and beyond the call of duty when it comes to the club.

tomogull wrote:Yes - excellent news. Even though I'm not a member yet, I for one hope that there will be some sort of parnership with TUST so that as you say, Steve, everyone is working for the good of the football club.

Sign up then......what's stopping you? :na:

The best news is that they seem to be local people, and in my opinion this is better than the size of their wallet

Neal wrote:The best news is that they seem to be local people, and in my opinion this is better than the size of their wallet

New press release....

Hopefully good news!!!

http://www.bbc.co.uk/sport/0/football/32882090

I agree with Tomogull. It would be nice if the two or three different groups of bidders could, instead of competing against each other for control of the club, join forces and, jointly with TUST, run the club together. Whatever the details of such a set-up, together we would be unstoppable!

"They've made a bid. We're waiting for the money to arrive in our account," acting chairman Bill Phillips said.

What a brilliant quote.

Fonda wrote:"They've made a bid. We're waiting for the money to arrive in our account," acting chairman Bill Phillips said.

What a brilliant quote.

Typical Phillips......

Am I understanding this correctly? Thaea gives the current Board 80% of her shares for 1p, and they then sell them on for whatever they want?

Seems like only one person is getting screwed out of this.

Did Thea give her shares to the other directors, or to the club? There is a difference.

Gullscorer wrote:Did Thea give her shares to the other directors, or to the club? There is a difference.

IT can be confirmed that today Thea Bristow has transferred 80% of her Plainmoor Limited shareholding, which controls Torquay United, over to a group of existing Torquay Directors for a pound.

Source: http://www.torquayunited.com/news/artic ... 68109.aspx

Fonda wrote:"They've made a bid. We're waiting for the money to arrive in our account," acting chairman Bill Phillips said.

What a brilliant quote.

Surely then that means that the current Directors have accepted the bid from ??? - otherwise why would any money be paid into their (the clubs?) account. You don't transfer money into an account unless the bid has been made and accepted and you've bought something.

RoadGull wrote: Surely then that means that the current Directors have accepted the bid from ??? - otherwise why would any money be paid into their (the clubs?) account. You don't transfer money into an account unless the bid has been made and accepted and you've bought something.

It could feasibly be a 'bond' that states intent. It's easy to say "hell yeah, I've you £200k for Torquay United" if you don't actually have to pony up. I'd expect that any prospective buyer will have to deposit a certain sum (maybe 10%, although Im essentially pulling that out of my backside) to demonstrate serious intent as well as some level of financial commitment and ability to pay.

A lot of room in your backside

happytorq wrote: It could feasibly be a 'bond' that states intent. It's easy to say "hell yeah, I've you £200k for Torquay United" if you don't actually have to pony up. I'd expect that any prospective buyer will have to deposit a certain sum (maybe 10%, although Im essentially pulling that out of my backside) to demonstrate serious intent as well as some level of financial commitment and ability to pay.

This is a very likely scenario. It could also be that they would deposit a % to ensure preferred bidder status.