Osborne Sells Up..... To Masters?

TorquayDNA · Post by **TorquayDNA** » 29 Mar 2018, 12:33

Merse where did you get the £455k figure from? I'm intrigued as I couldn't see it on either Customs House beta nor on a paid account with Experian...

TorquayDNA · Post by **TorquayDNA** » 29 Mar 2018, 12:43

Jerry wrote: ↑29 Mar 2018, 12:27 So how will he get his money back?

Well, I guess he has a budget amount that he has pre-calculated for spending at the club. Once he gets up to this, he will revert to plan B and who knows what underhand tactics will be involved there?!

If in the remote off-chance he decides to make his money from running TUFC in the long term at a new stadium etc, he will presumably charge a considerable rent for TUFC to use the stadium which he owns (or at least on land that he owns) which will then cover his investment and begin to pay off.

In addition to this, he is ploughing money into the venture up to a certain threshold so that he knows he can make a tidy profit from the development of land that he's managed to get his hands on.

Either way, TUFC is held over a barrel by Osborne as it is deeply indebted to him and will be so for a very long time, whether he goes ahead with his new stadium plan or not. See it as this: he is using TUFC as a tool to help him get hold of development land, and if the club doesn't totally fold then he'll make even more money either from a sale, or from the rent that he will collect at the new stadium.

Others may have comments on this.

I just can't see any other logical explanation ... Can you?

Jerry · Post by **Jerry** » 29 Mar 2018, 12:48

TorquayDNA wrote: ↑29 Mar 2018, 12:43 Well, I guess he has a budget amount that he has pre-calculated for spending at the club. Once he gets up to this, he will revert to plan B and who knows what underhand tactics will be involved there?!

If in the remote off-chance he decides to make his money from running TUFC in the long term at a new stadium etc, he will presumably charge a considerable rent for TUFC to use the stadium which he owns (or at least on land that he owns) which will then cover his investment and begin to pay off.

In addition to this, he is ploughing money into the venture up to a certain threshold so that he knows he can make a tidy profit from the development of land that he's managed to get his hands on.

Either way, TUFC is held over a barrel by Osborne as it is deeply indebted to him and will be so for a very long time, whether he goes ahead with his new stadium plan or not. See it as this: he is using TUFC as a tool to help him get hold of development land, and if the club doesn't totally fold then he'll make even more money either from a sale, or from the rent that he will collect at the new stadium.

Others may have comments on this.

I just can't see any other logical explanation ... Can you?

But he hasn't got his hands on any land yet has he? If he doesn't build a new stadium then how will he recoup his loans? As you say no-one is likely to pay him that sort of sum for the club.

TorquayDNA · Post by **TorquayDNA** » 29 Mar 2018, 12:57

It's true. It's a gamble for him. He'd have made quite sure of some form of 'insurance' though. As in all investments, there is an element of risk... I suppose he is pretty sure of pulling this one off!

merse btpir · Post by **merse btpir** » 29 Mar 2018, 14:48

TorquayDNA wrote: ↑29 Mar 2018, 12:33Merse where did you get the £455k figure from? I'm intrigued as I couldn't see it on either Customs House beta nor on a paid account with Experian...

In section 1.2 of company information it is stated that there are certain material uncertainties which the director (Osborne) is aware of as the company's ability to continue as an ongoing concern. The company incurred ongoing losses during the year of £303,733; this has been funded by loans from the parent company Riviera Stadium Ltd totalling £455,000 (2016: £120,000)

The figure in brackets being the capital injection for which the previous board surrendered it's equity set against the loan leaving Osborne as owner.

merse btpir · Post by **merse btpir** » 29 Mar 2018, 14:59

TorquayDNA wrote: ↑29 Mar 2018, 12:23 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!

As I did too (I went to Newton Abbot Grammar) fifty years ago and it used to get like the Battle of the Somme then!

A piece of land at the foot of a considerable drop from the hills below Dartmoor and almost at the bottom of the Lemon Valley; of course there will always be underlying 'water table' issues there and time and time again the area is out of bounds to the management.

TorquayDNA · Post by **TorquayDNA** » 29 Mar 2018, 15:31

Ah gotcha... And I thought I'd read the accounts thoroughly!

And yes I agree about the water issues! Mum never did enjoy the mudslide effect on my footie kit!!

Always meant to ask if you used to live here, so that's answered that one. Reminds me, I need to set the record straight after something which you said last year (not related to this post and probably pretty pathetic to argue but hey, it's my home town and I love it) and I quote ' Torquay doesn't have anything remotely resembling a summer'. If you're comparing to southern Europe or further afield then fair enough. If, however, you were comparing to London then that's inexcusable

- the thousands of residents, tourists and palm trees disagree on this point. So, for that matter, do the official met office stats:

Torquay hours of sunshine: 1,747 per year
London hours of sunshine: 1,410 per year

...I know where I'd rather be

merse btpir · Post by **merse btpir** » 29 Mar 2018, 15:53

Well it's pissing down freezing rain right now so I'm busy digging the tunnel into the pub next door so as I don't need to get wet going for a pint in the future!

Which is precisely what I will be doing come five o'clock ~ a nice pint of Pale as per usual; Magic Rock Inhaler if there's any left; it comes all the way from Huddersfield! If not, there's always the fun of doing more research into the vital sustenance of life that gets us through these 'grim Lunnon summers'.

Yes I'm a 'Noot'n Boy' having spent the first half of my life thereabouts; went to Decoy Primary and then the local NAGS Grammar School. Played football for Torbay Schools, and Newton Spurs amongst other clubs. Left in my later teen years only to return for a holiday and stay another decade a few years later spending much of that time working for Torquay United for whom I was never good enough to play for despite my best efforts.

Life's like that for me; I returned to London for a second spell in 1985 ~ it was meant to be for six weeks and I'm still here and loving it; retired now (at the age of 65) and wondering however I ever found the time to work!

Summer evenings at my local

greb46 · Post by **greb46** » 29 Mar 2018, 16:00

Torquay has its own merits except the football club! Plenty of diversity in the smoke though regarding entertainment including some decent football clubs.

TorquayDNA · Post by **TorquayDNA** » 29 Mar 2018, 16:57

Well well, a potted history! Thanks Merse, always good to know the background and history, all adds to the spice of life!

I'm actually 50% Sarf London myself and have many fond memories of fine summers spent playing in Beddington Park with my grandparents. Both have their merits, but on balance I personally much prefer Debm

Still, nice to have a light relief from the rather damning situation over at Plainmoor. Enjoy your pint(s) Merse and happy digging!

grubshed · Post by **grubshed** » 29 Mar 2018, 22:06

Wow Beddington Park I used to live in one of the bungalows at the entrance on the Croydon Road . Learnt to ride my bike with my Dad in the park. Plenty of adventures it seemed so big. Also remember falling in the river and my mum diving in to rescue me. Happy days I also live down here now.

TorquayDNA · Post by **TorquayDNA** » 29 Mar 2018, 22:38

Same road as grandparents then grubshed! The river was great, many happy hours spent mucking round in there... Building dams, riding inflatables... It's a kids life hey!

grubshed · Post by **grubshed** » 29 Mar 2018, 22:58

Very good times indeed the innocence of youth and everything to look forward to many fond memories. Its hard to believe that there might only be one division between Carshalton and Torquay next season . The Robins are in a fine run of form and with a couple of games in hand look good to get into the top two. Following their fortunes on twitter has been a nice distraction from the dross we've had to witness.

Neal · Post by **Neal** » 30 Mar 2018, 11:53

The best thing that can happen to this club now, given that we are also in debt up to our eyeballs, and an owner like we have, a crap team which is the worst team we have ever had, the worst manager we have ever had, LOOK AT THE TABLE before you jump to contradict me on that, is to go bust. Start again from the bottom and negotiate with the council to take over the lease.

goody2449 · Post by **goody2449** » 30 Mar 2018, 14:26

For the stubborn, ignorant people that believe money grows on trees, that persist on bringing irrelevant headlines about the current TUFC owners, who have paid a mere £455 grand into the club up to last June, making it one of a handful of Football clubs in our current league in the black rather than red, like the previous owners put us in, i have a question. How else were the bills, wages gonna be paid???

Of course, he's going to put money in, and expect something in return in the future, it's called BASIC BUSINESS! And he is a businessman!!

We all had the opportunity to buy the club, he put his hand in his pocket, nobody else was willing to!!!

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