IT’S CRUNCH TIME
Plainmoor future holds the key at Torquay
The takeover of troubled Torquay United has reached a crucial stage
TORQUAY UNITED’S takeover could be in jeopardy if the prospective new owners can’t buy the club’s Plainmoor home.
The Gulls announced back in March that they were in “advanced” talks with Riviera Stadium Limited, a subsidiary of Swindon-based Gaming International Ltd, but negotiations have since moved slowly and chairman David Phillips expressed his frustration last week.
However, it has now emerged that Riviera Stadium Limited want to take ownership of Plainmoor, sell it and then build a new ground elsewhere.
Torbay Council currently own the freehold to Plainmoor and Phillips wants them to outline their position so the club can plan their next moves.
Riviera Stadium Limited’s period of exclusivity ends next Sunday, July 31, and the club will seek investment from elsewhere if a deal cannot be struck by then.
In a statement,Torquay United chairman David Phillips said: “RSL have completed their due diligence and have concluded that for the club to survive and flourish under their ownership, they require confidence in the position with Torbay Council for Torquay United to have the option to purchase the freehold of Plainmoor, and advance a potential site away from Plainmoor for a new football and event arena. The new stadium will be designed to satisfy the needs of Torquay United and the local community.
Assurances
“The Board are working hard with Gaming International (as one of the possible purchasers of the club) and the council to secure the necessary assurances that will allow Gaming International to proceed.
“If we are unable to do this by the end of the month, we will open up the search for new investors.
“We are fully aware that delay and uncertainty is potentially damaging to the football club. We are therefore urging the Mayor and Torbay Council to confirm their intentions in relation to the football ground as a matter of urgency to enable us to move forward.
“…To be the club that we want to be, and thrive in the League, we need a new home that can provide the facilities for our supporters, and the commercial revenues necessary for the club to flourish in the next 25 years.We have the opportunity to achieve this, and we hope that our supporters will get behind the club to help get us over the line.”
However, the Torquay United Supporters Trust have expressed their concern at the plans.
“TUST is uncomfortable that the statement effectively amounts to an ultimatum which gives Torbay Council little more than a week to decide upon the freehold of Plainmoor,” it said. “TUST reiterates that any decision must be in the best interests of the town, its people and the urban environment.
“Plainmoor is listed as an Asset of Community Value and we call on David Phillips and his board to support a community share issue that will allow supporters to purchase the Plainmoor freehold, thus ensuring that supporters will always have a say regarding the future of their club.”