Every Wednesday in the Herald Express, our Torquay United correspondent Richard Hughes takes a sideways look at what's going on in the world of the Gulls. This week, he asks a simple question - why didn't the owner put the club up for sale, rather than going for the nuclear option of administration - and why it means the fans are paying for it
Why didn’t Clarke Osborne just put the club up for sale? That way, Torquay United wouldn’t be under this immense pressure to get a deal done with a new buyer – in what feels like an unrealistic timescale.
And, in the meantime, while Osborne & Co talk to prospective buyers, you – Torquay United’s loyal and worried fans – are being asked to pay the players’ and staff wages, and the club’s day-to-day running costs, rather than the owner.
Osborne still owns the club – if he had just put the club up for sale, surely he would still be paying those wages and costs.
I have no insight into why Osborne chose to get rid of the club like this, with administration and a 10-point deduction a very real threat, other than what was written in that announcement on February 22. But it is a truth that the fans are being asked to keep the club going while the owner tries to get his quick sale.
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In that statement, when the club was put up for sale on February 22, Osborne wrote: “It is with sincere regret that I advise that circumstances beyond my control during the last five weeks have brought me to the position that I am unable to continue financial support for the club and I have today filed on behalf of the directors, an intention to appoint an administrator to the club and company.
“The prospect of creating a new stadium and commercial facility was the driver for the investment, the excitement to deliver something truly transformative for the club and Torbay.
“I would reiterate what I have said many times, that Torquay United is blessed with fantastic, passionate support and I am sorry that we have not been able to reach our goal for the club and fans, despite significant effort and investment.”
The next day a ‘Message for the Fans’ – which was written by an unnamed author – landed on the site. It said: “Well, Yellow Army, we need your assistance more now than ever! Please come and support your team, whether that is buying a match ticket, meal in the restaurant, replica kit, pint in the Gulls Nest, sponsoring a game, supporting Boots & Laces during the week, or making a donation to the club.
“All money that the club raises from now on will be used solely for operational purposes to assist in the running of our club. Legal and administration fees will not be paid from the operational cash flow. The staff and the players of this club need your support and togetherness, and by being together we stand the best chance of this football club of 125 years of history finding new owners.”
Is it me or does it feel like the fans are now paying for Osborne’s exit? Meanwhile, there is some exciting news from Torquay United Supporters’ Trust, who have said they are backing a bid by two individuals that have come together to work towards forming a consortium.
With two of the parties believed to be talking to the club – former Truro City owner Peter Masters, and ex Port Vale owner Norman Smurfwaite – not exactly popular choices with the fans, this can only be good news. Fans should trust TUST’s judgement that the coming together of these two interested parties is a good thing – and at least these unnamed individuals have some exciting plans.
Selling Torquay United in four weeks was never going to be easy – but the threat of administration clearly has sped up the process. There is an urgency and now a new deadline of Thursday, March 21. Mr Osborne might get some of that £5-6 million back that he put into the club to keep it going.
But without knowing exactly what the ‘circumstances beyond my control’ that Osborne wrote about on February 22, it does make me wonder if things could have been gone about a little bit differently.
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Torquay United have to pay the price for owner wanting quick sale
5
1
13.03.2024
Every Wednesday in the Herald Express, our Torquay United correspondent Richard Hughes takes a sideways look at what's going on in the world of the Gulls. This week, he asks a simple question - why didn't the owner put the club up for sale, rather than going for the nuclear option of administration - and why it means the fans are paying for it
Why didn’t Clarke Osborne just put the club up for sale? That way, Torquay United wouldn’t be under this immense pressure to get a deal done with a new buyer – in what feels like an unrealistic timescale.
And, in the meantime, while Osborne & Co talk to prospective buyers, you – Torquay United’s loyal and worried fans – are being asked to pay the players’ and staff wages, and the club’s day-to-day running costs, rather than the owner.
Osborne still owns the club – if he had just put the club up for sale, surely he would still be paying those wages and costs.
I have no insight into why Osborne chose to get rid of the club like this, with administration and a 10-point deduction a very real threat, other than what was written in that announcement on February 22. But it is a truth that the fans are being asked to keep the club going while the owner tries to get his quick sale.
Read More - Torquay United ten point........
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