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Potential Buyers
Posted: 01 May 2024, 10:20
by TUST_Official
On what is the club’s 125th birthday, TUST welcomes the statement released by the administrator today. Our discussions with the Bryn Consortium led by Michael Westcott are positive and ongoing.
More updates will be issued when appropriate.
Potential Buyers
Posted: 01 May 2024, 10:27
by portugull
Michael Westcott, Tom Allen, Mark Bowes -Cavanagh, Rob Hawes and Simon Robinson.
Anyone know any of these guys?
Potential Buyers
Posted: 01 May 2024, 10:38
by YellowM25
The TUST bid was the Westcott consortium plus TUST fundraised investment, with a future exit plan for the TUST itself. If the consortium alone is the preferred bidder then it would seem they do not need the further funds from TUST to complete the sale, at least enough to satisfy the creditors.
As an expat, some profiles on the announced names would be nice.
Potential Buyers
Posted: 01 May 2024, 10:51
by Sporty60
Admiral wrote: ↑01 May 2024, 10:19
Main bidder pull out?
Think you must be correct.
Statement says that Bryn have emerged IN THE PAST WEEK as the preferred bidders.
Potential Buyers
Posted: 01 May 2024, 11:10
by hector
merse btpir wrote: ↑27 Apr 2024, 20:15
bobbytanz1963...
In the quote from
BTPIR made previously in this thread, where does it say that there would be an announcement today?
the phrase used was:
"I've been PM'd this morning to tell me...
That the sale of the club will go through today "
No mention (because I haven't been told) of any other that
'it has been agreed' and certainly not that 'it would be announced'
Please don't infer something has been said when it has not. It's not difficult to refer to something clearly stated earlier in the same thread that you are posting from and respond to it.
Reliable sources are they?
Potential Buyers
Posted: 01 May 2024, 11:42
by TommyGunn
Not sure what to think until we know their intentions. Part time/full time? Ambitions of the football league as mentioned or was that a different bidder?
But at least we are moving forward now and we can ditch all the rumours.
Potential Buyers
Posted: 01 May 2024, 11:49
by smw89
MBC works in the pharmaceutical sector and sold his company for a few million and he is now an investor in several companies… he’s a Mason and a Torquay fan
Potential Buyers
Posted: 01 May 2024, 11:51
by MaxIsMe
smw89 wrote: ↑01 May 2024, 11:49
MBC works in the pharmaceutical sector and sold his company for a few million and he is now an investor in several companies… he’s a Mason and a Torquay fan
Maybe he could do some brickwork for me
Potential Buyers
Posted: 01 May 2024, 11:56
by Gulliball
So the previous preferred bidder has pulled out or couldn't prove funds, and this consortium is next in line and taken over as preferred bidder in the last week.
I think it's positive news. Or certainly in a world of everyone else has pulled out and the AGM is five weeks away, it's this or potentially no club.
People called it a TUST bid, but it really isn't. It's a consortium of fans, the leader of which I understand is a millionaire. They offered TUST a chance to 'buy in' for a seat on the board, which in terms of fan engagement seems pretty positive, and TUST backed the consortium's bid (others weren't public so would be harder to back).
They also didn't say we would be part time, they said it was an option. Which seems sensible at that stage (they werent even preferred bidder at that stage) not to commit or over promise before knowing all facts.
Certainly given what we have been told, a consortium of rich fans seems pretty positive for the future. Everyone dreams of a millionnaire signing cheques and bankrolling the club, but it seems that wasn't on the table (or the previous two times the club was for sale).
Potential Buyers
Posted: 01 May 2024, 12:11
by kevgull
Potential Buyers
Posted: 01 May 2024, 13:07
by tufcjon
.. and saved by the man who reported on Bryn saving the day:
https://torquayfansforum.co.uk/thread/ ... pirit-bryn
Potential Buyers
Posted: 01 May 2024, 13:52
by knightmaregull
Gulliball wrote: ↑01 May 2024, 11:56
So the previous preferred bidder has pulled out or couldn't prove funds, and this consortium is next in line and taken over as preferred bidder in the last week.
I think it's positive news. Or certainly in a world of everyone else has pulled out and the AGM is five weeks away, it's this or potentially no club.
People called it a TUST bid, but it really isn't. It's a consortium of fans, the leader of which I understand is a millionaire. They offered TUST a chance to 'buy in' for a seat on the board, which in terms of fan engagement seems pretty positive, and TUST backed the consortium's bid (others weren't public so would be harder to back).
They also didn't say we would be part time, they said it was an option. Which seems sensible at that stage (they werent even preferred bidder at that stage) not to commit or over promise before knowing all facts.
Certainly given what we have been told, a consortium of rich fans seems pretty positive for the future. Everyone dreams of a millionnaire signing cheques and bankrolling the club, but it seems that wasn't on the table (or the previous two times the club was for sale).
Potential Buyers
Posted: 01 May 2024, 14:52
by Dave
The fact you posted what's on the link, on the 7th April suggests Michael Westcott led consortium may have been the preferred bidder all along, personally had a hunch this was the case since the Havant home game, I questioned in my own mind why Neil Warnock was still around, cant imagine if Watt/Jarvis had really been preferred bidders they'd have either wanted or required Mr Warnock's help.
Potential Buyers
Posted: 01 May 2024, 15:06
by brucie
Thats a fair point about Warnock actually. Would expect him to have some sort of input.
Goodness knows whetherr there was another bidding consortium Possibly there wasnt after everything.
Potential Buyers
Posted: 01 May 2024, 15:09
by Dave
Delighted with this news. Romantic notions of the brewdog millionaire were all very well, but this clubs has been through a period of sustaining £1million a year losses , under James Watt I have a feeling we may have gone from the club akin to the 'house that jack built' to the club akin to the 'house that jack built' and long term have been in no better position.
It seems that next week we may have new owners moving in, and they're all true TUFC fans, who will have the best long term interests of our club at heart 'seriously, who doesn't like the sound of that' We all want a return to the EFL, but it comes under romantic notions again. If we look at Sutton and Hartlepool promoted in our near miss season, both couldn't sustain EFL membership past 3 seasons , FGR couldn't sustain EFL membership with the backing of endless pots of gold.
We all agreed' long term sustainably' is what we hoped for, think we're looking at that now, and think these guys may attract backing from bigger gate figures maybe, for now it's about waiting to hear what plans these have for our club.