bay52
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Post by bay52 on Jul 13, 2016 6:04:53 GMT
yes thay have rob let'see what come of it?
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Post by elbolsa on Jul 13, 2016 12:42:05 GMT
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rjdgull
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Post by rjdgull on Jul 14, 2016 12:20:05 GMT
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rjdgull
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Post by rjdgull on Jul 14, 2016 12:39:32 GMT
Confirmation Here that if the GI deal falls through that the loan believed to be £50k plus and even in multiples of this if rumours are true will have to be paid back. I really hope that prohibitive terms for this were not agreed in the MOU that may impact on the club. Talking of which, the confidentiality terms may have been fine for a month or so while due diligence was undertaken but unacceptable while other unknown factors have come into play and not sure why this period length was agreed that takes us right up to the new season with all the uncertainty and impact on the playing budget. If short term funding was a major issue, why was the possibility of a TUST rights issue not properly explored? |
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chelstongull
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Post by chelstongull on Jul 27, 2016 12:15:12 GMT
According to todays HE, Dave Thomas writes:
"GI have already provided some funds in the form of a sizeable loan, to help Nicholson's playing budget.
And it was GI who approved Nicholson's playing budget"
How can they approve a playing budget if they are not in charge?
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rjdgull
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Post by rjdgull on Jul 27, 2016 14:07:37 GMT
I think at the time it was thought that the takeover was an almost certainty (ie 99% certainly but how that could be if it was conditional on acquiring the freehold is beyond me) and that it would happen quickly and the "short term loan" would top up the playing budget to the level deemed necessary by GI for the season ahead. (Whether that was for the long term interests of the club or a short term bung to keep fans and board happy during the takeover is open to speculation and opinion) link -article main thrust is about a plan b so GI now highly unlikely to proceed I think, although may be part of another consortium with their "development expertise" and TUST get a belated mention as an interested party. Whatever happens there does seem to be some momentum to move away from Plainmoor. |
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rjdgull
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Post by rjdgull on Jul 27, 2016 16:17:03 GMT
link - another article about the comings and goings in this deal. The council only met with the club owners for the first time last week and complain about a worryingly lack of detail about their plans and proposals for the club which frankly adds to suspicions about the ultimate motives of GI, Is there a detailed breakdown of proposals and costings to build a new stadium to make it worthwhile for all parties? If not, why the enthusiasm for this sale? Good news that the council appear to be supportive of the club generally.
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Post by Ditmar van Nostrilboy on Jul 28, 2016 14:43:03 GMT
Is there a detailed breakdown of proposals and costings to build a new stadium to make it worthwhile for all parties? If not, why the enthusiasm for this sale? Good news that the council appear to be supportive of the club generally. To be honest Rob, I would doubt it. Proposals maybe, but nothing that any level headed individual could rightly call considered. Of course, the easy way out (though not for GI) would be for the council only to transfer the freehold of Plainmoor once the new stadium was up and running with suitable leases in place, and under no circumstances before. Doubt that would be considered viable though.... |
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Post by gateman49 on Jul 29, 2016 16:29:53 GMT
Had this e mail today:
As I have had numerous emails regarding Torquay United and the freehold of Plainmoor I asked the council to provide a statement, please find below.
A Torbay Council spokesperson said: “We can confirm we have met with members of the Torquay United board, at their request. The board is currently having discussions with potential investors to develop proposals. Only once the Club have decided how they wish to progress matters, will the Council be able to consider the same and ultimately make any decision."
Kind regards
Gordon Oliver
Elected Mayor of Torbay
Tel: 01803 207829
Torbay Council
Town Hall
Castle Circus
Torquay
Devon TQ1 3DR
mayor@torbay.gov.uk
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simonb
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Post by simonb on Jul 29, 2016 16:36:46 GMT
Well that's a stunning statement !
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rjdgull
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Post by rjdgull on Jul 31, 2016 9:21:40 GMT
Well, now we have some information about the potential buyers I not sure I feel that greatly enthused. Trust will need to be built and part of this will be the provision of a clear medium-term plan for TUFC which gives supporters an outline of what the owners will be investing in and why. In the back of my brain I am getting niggles over stadium developers and opportunistic money grabbing miscreants. I just hope this is the start of a fruitful era and not an end game that will see club destruction prevail. No doubt we will all find out in due course! I thought this was a great post at the start of this thread as it summed up fans initial concerns which were only heightened as time went on. Despite an initial desire to improve communication with fans the board effectively signed an gagging order with the MoU, telling the fans to be quiet for the club had a wonderful opportunity with the expectation that everything would be done and dusted by the end of last season and all would be explained at a subsequent fans forum. So 4 months on, no deal, a frantic appeal to the council last week to sell the freehold and today is the last day of exclusivity for Gaming International to complete the deal which now looks dead in the water. So what next? A start would to be up front with the fans. What is the financial fallout from this deal, ie this loan amongst other things? What options are on the table now? Who are they talking to for a plan B? Can a rallying call be made to fans for a TUST community share issue. The BoD may hold the reins but fans have a stake in the club too and at least TUST as a non profit organisation and with one purpose won't have any ulterior motives and is a course that everyone can get behind. |
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rjdgull
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Post by rjdgull on Jul 31, 2016 10:11:25 GMT
link - statement from the chairman confirming that the Gi deal is dead!!!!!! Also talk of arranging a fans forum and establishing links with TUST which is good news! Looks like the purchase of the freehold was not in the Memorandum of Understanding. But then, we did say that Gaming International were not to be trusted.......
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Rob
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Post by Rob on Jul 31, 2016 10:31:27 GMT
This statement comes as a huge relief. Let's start again without the spectre of Plainmoor asset stripping hanging over us.
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midlandstufc
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Post by midlandstufc on Jul 31, 2016 10:40:38 GMT
Happy days and a massive relief!
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chelstongull
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Post by chelstongull on Jul 31, 2016 10:47:57 GMT
Does anyone know how much has to repaid and will their be any money left in the MacFund for buying players?
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