Tony wrote: ↑Fri Mar 08, 2024 7:57 am
Torquay still not in administration having filed another 10 day notice of intention to appoint administrators on 7 March. The notice will earn them a 10 point deduction nevertheless. Seems that the owner will write off his loans which will make rescue much easier to achieve (if honoured) and a number of parties have expressed interest. The 10 point deduction will place them just above the current relegation places.
Is that 10 Point deduction definite?
I thought it depended how many teams were in the division you are in?
e.g. Because there are 24 teams in the National League South therefore the deduction would be 12. Half the number of teams.
BeaverWatcher wrote: ↑Mon Mar 11, 2024 8:23 pm
Ahead of our trip to Torquay the Trust have released an early fans guide and also how to donate to TUFC to help support their fundraising efforts.
The Torquay Trust have done well to get to this stage but other bidders may emerge. If they are successful then Torquay will stop being full time and will have to reduce their cost base which is currently running at £100K per month.
I suspect the Administrator has been appointed to conduct the sale process but here the fun and games begin as there are very strict NL rules about the deal and payment of creditors. If not Met Torquay will be relegated out of the NLS. Apparently there are two bids, one of which is being fronted by the Supporters Trust. But their bid is dependent on satisfactory due diligence which may throw up more issues and will take time to complete. Don’t rule out a summer relegation for Torquay and a reprieve for one of the relegated clubs.
