Torquay United fans rejoice as a statement on the National League South club’s future reveals they have been saved from the brink.
The Gulls has been acquired by a group of local businessmen, purchased by The Bryn Consortium, pending approval from creditors, after they had been financially-struggling club.
Former owner Clarke Osborne said back in February that he could no longer financially support the team, leading to their administration.
Despite a 10-point deduction in March, which put them at serious risk of potential relegation to the 7th tier, Torquay ended up breathing a sigh of relief in finishing the 2023/24 National League South campaign in 18th place, 7 points above the drop.
The Bryn Consortium, consisting of Michael Westcott, Tom Allen, Mark Bowes-Cavanagh, Rob Hawes, and Simon Robinson, emerged as the preferred buyers after administrators Begbies Traynor initially accepted a different offer.
As part of the agreement, a company voluntary arrangement has been established to ensure that all tax debts and trade creditors are settled within six months.
A random fact about the consortium is that they were, as reported by BBC Sport, named after the police dog Bryn, known for biting Torquay player Jim McNichol during a match in the 1986-87 season.
Torquay narrowly avoided relegation at the time, thanks to a goal scored by Paul Dobson during stoppage time caused by the incident.
🟡 Statement From The Administrators Of Torquay United AFC Limited
The following statement has been issued by the Administrators of the Club.
👉 https://t.co/33dh0TPODE#tufc pic.twitter.com/TbFd3vom6j
— Torquay United AFC (@TUFC1899) May 10, 2024
The following statement has been issued by the Administrators of the Club:
A sale agreement for Torquay United AFC Limited has been reached with The Bryn Consortium of Michael Westcott, Mark Bowes-Cavanagh, Tom Allen, Rob Hawes and Simon Robinson, subject to creditor approval.
The proposed company voluntary arrangement would see all tax debts and trade creditors paid in full within six months.
Under the terms of the agreement, Torquay United AFC Limited would continue to operate the football club with the new owner becoming the controlling shareholder.
Scott Kippax, joint administrator, and partner at Begbies Traynor’s Exeter office, said:
“This proposal is the best possible outcome for creditors, the club, and the fans. We are delighted to have reached the point of a conditional sale agreement, which would see all tax debts and trade creditors settled in full in a relatively short period of time. It is good news for the long-term future of the club, and we are pleased to be able to present such a favourable proposal to creditors.”
Michael Westcott, the Bryn Consortium lead added: “We are delighted to have provided a positive outcome for all creditors and provided a future for our beloved football club. There is much work to be done in the coming days and weeks, and we will issue a series of updates to supporters next week on the preparations and plans for the forthcoming season.”
Torquay United Supporters Trust tweeted: “TUST is delighted that the Bryn Consortium are the new custodians of Torquay United heralding a new era for the long term future of our football club.
“Now that the consortium’s involvement is official, members of the TUST board are to meet with the Bryn Consortium on Monday to formalise TUST’s involvement and importantly fan engagement in the running of Torquay United.”
It is also reported that Neil Warnock is likely to take on a role at National League South side Torquay United following the club’s takeover.
“Neil’s knowledge of football is second to none,” Torquay’s new co-chairman Michael Westcott told BBC Sport.
“He knows our club very well, he knows our region very well.
“He and I have spent an awful lot of time together over the last six weeks or so and I think that relationship will continue.”
“I think that Neil’s reputation precedes him,” Westcott added.
“I think he’s a very reassuring presence both to young players and experienced players, and also to a football team manager.
“He’s been around the football world for more than 40 years and the fact that Torquay United can benefit from his experience, his contacts, his presence, his personality, I think will be of tremendous support for the club as we start thinking about how we can be as competitive on the pitch as we possibly can.”
As mentioned, Torquay fans rejoice as a statement on the club’s future reveals they have been saved…
@DanClarkPR: Great news! Well done 🙌🙌🙌
@urrrzzzz: Very good to hear, hope it goes well for you
@jjskeffington: You beautiful Yellows 💛
@mp_white11: Amazing news, the club should never have been allowed to get this close to oblivion, but hopefully this heralds a bright new future. 🤞
@A1927362678: Amazing news. I can’t wait to buy a season ticket for my little boy and I.
@Lisac1070248C: This is absolutely fantastic news congratulations torquay, all love to everyone at the club and fans
@Tufc_Ultra: Let’s hope this is the start of better things to come #tufc
@Joe_Ugs: 💛💙 got our club back 🥹
@mattdarbyy2: You bastard yellows 💛💛💛
@meggaherne: Some great news!!! Hopefully good things to come in the future for this club that do so many good things not just football wise for fans but in the wider community also 💛💛
@Jonny___Jones: We have our club back #TUFC
@68Langers: Excellent news 😊 Onwards and upwards #yellows #tufc
@RichHeesem: The #incoming all #tufc were hoping for. We have our football club back. Thank you to @goddywestie the rest of the Bryn Consortium
@George26011: Genuinely so happy shit. This football club has been saved. The future is much more brighter 😍
@BeddowsTom: Up the Gulls!! 💛💛💛
@capitalgull: Thank you @goddywestie and the other members of the Bryn Consortium. Here’s to a much brighter yellow future for the Gulls 💛💙
@johncadigan: Whatever happens next season, we now have our club back and a property developer spent six million quid and seven years to achieve absolutely sod all. Let’s agree today is a good day 💛
@Callum_dolan10: Great to see. @TUFC1899 👏
@thedanhorler: We’re back, baby!!! 💛💙💛💙
@jamesallan163: What an incredible outcome. TUFC will never die ❤️❤️❤️❤️❤️
@Jamie_E135: Today is a good day
@George26011: YESSSS
@TUFCbrad: Yellowsssssss 💛
@George26011: Thank you @goddywestie 👏🟡
@cameron_pickard: Good news for Torquay fans
@pieman80: Gunna say it again. If Torquay can be sold, so can #stfc Chuffed for for Torquay and their fans.
@alanjwills: An amazing opportunity for our beloved Torquay United to be rebuilt in the right way with proper foundations, and loyal supporters steering the ship. Thank you “Bryn Consortium” and @goddywestie for saving #OurClub 💛💙 #TUFC #COYY
Sun is shinning and the gulls are saved… happy days #TUFC https://t.co/uO7F1QxTZq pic.twitter.com/APzbdaWboe
— Leigh (@FMDevon) May 10, 2024
Some brilliant news in recent days with @officiallydale and now this.
Congrats to both! Things are looking up for them 🙌🏻 https://t.co/4byzhW5vqp
— Sell Before We Dai (@SellBeforeWeDai) May 10, 2024
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