FANS SWOOP TO RESCUE GULLS
TORQUAY United Supporters’ Trust believe they can lead a bright new future for their beleaguered National League South club after submitting a bid to take ownership – and have called on fans to help raise £150,000 to achieve it.
The TUST-led consortium are working with a group of businessmen, and long-term supporters, to rescue the Gulls.
Following last month’s announcement owner Clark Osborne was withdrawing his financial support, the Devon outfit were plunged into crisis and have since been deducted ten points for going into administration, leaving them just four points clear of the relegation zone.
In the meantime, fans were asked to raise funds to keep the club ticking over and it’s largely down to their efforts that staff and players have been paid on time.
But now the Trust are confident they have a viable long-term plan in place to create “sustainable fanowned club with a sound, sensible financial foundation”.
Sustainable
A TUST statement said: “We are now working in partnership with a consortium of passionate businessmen who are all long-standing supporters. Together, we are of the opinion that it is possible to rescue the football club.
“With this in mind we have submitted a bid, as a TUST-led consortium, to take on the ownership of Torquay United. The objective of the partnership is to create a successful and sustainable fan-owned club with a sound, sensible financial foundation.
“Initially, the club would become partially fanowned, with TUST being the vehicle for this fan ownership, and the remaining shareholding being held by a group of investors who are experienced business professionals or successful entrepreneurs.
“It is our hope and ambition that by the start of next season, the fans would own half of the club. It is important to note that the long-term vision of both the investors and TUST is that the club ultimately becomes 100 per cent fanowned.”
The Trust say the consortium of businessmen – led by Michael Westcott, a lifelong fan and season ticket holder with strong family ties to the club, and joined by fellow fans Mark Bowes-Cavanagh, Simon Robinson, Andrew Beaulieu, Tom Allen and Joe Lovell – have “no expectation” for return on their investment.
Incentive
And they’re taking inspiration from the likes of Hereford and neighbours Exeter City.
TUST added: “Fundamental to the plan is a belief that the existing cost structure of the club is unsustainable at National League South level.
“The consortium has identified several areas where services and engagement with both supporters and the local business community can be significantly im proved.
“We strongly believe that the promise of ‘a club owned by us all’ provides a great incentive to leverage the benefits of human capital through the work that volunteers can do.
“Our friends at Exeter City and other community-owned clubs have seen the rewards from this in practice.”
TUST members will be consulted before a final commitment to the proposal – that would be subject to FA and National League ratification – but feel they have the right support in place to lead the club to a sustainable future.
“The TUST board are confident that it offers a once-in-a-lifetime opportunity and will be supported by the vast majority of you,” the statement added.