Taunton Town put under transfer embargo after winding up petition
https://twitter.com/Ollie_Bayliss/statu ... 3129302240
Clubs in Crisis
Chorley of National League North
https://www.lep.co.uk/business/chorley- ... ts-4510653
https://www.lep.co.uk/business/chorley- ... ts-4510653
Rochdale AFC of the National League
https://www.rochdaleonline.co.uk/news-f ... investment
https://www.rochdaleonline.co.uk/news-f ... investment
https://x.com/tufc1899/status/176065289 ... Am8WRXRGZA
Torquay owner putting the club into administration. Assume that comes with a points deduction.
Torquay owner putting the club into administration. Assume that comes with a points deduction.
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BeaverWatcher
- Posts: 123
- Joined: Wed Sep 29, 2021 8:52 am
Should be the standard 10 point deduction.
Could be the end for Torquay but much will depend on whether the parent company Riviera Stadium Ltd is prepared to write off around £5M of loans which have been propping up the club. Looks as if this was another property development play that has not come off and if there is no buyer for the club, the ground would have to be sold. Administrators not yet appointed so a little while before the world finds out if this is a negotiating ploy from a frustrated owner, a prelude to a pre-pack sale already lined up or the chance for new investors to come in. With the club losing around a £1M per year it's going to need very deep pockets. I would expect a player exodus fairly swiftly once Administrators are appointed. With Taunton also in deep financial trouble, the West Country's representation in this division is looking a bit bleak.
PS. The ground is owned by the local council who will be key in any negotiations for any new owners.
PS. The ground is owned by the local council who will be key in any negotiations for any new owners.
Last edited by Tony on Fri Feb 23, 2024 8:31 am, edited 1 time in total.
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TW3 Beaver
- Posts: 602
- Joined: Fri Jan 22, 2021 10:56 am
- Location: Lampton Village
Good article on the ownership history of Torquay United FC
How on earth is a football club allowed to rack up £5m in loans, threatening its very existence?
We need to fix football club governance, and the governance of football.
We need an independent regulator down to step 4 - promised by the current government (to step 1), supported by all parties, tho' govt appear to be backtracking under pressure by Premier League big club owners.
In the meantime, the Torquay United Supporters Trust has been doing good work that every Trust can be doing:
"We have a strategy group that's been meeting regularly for the last two or three years and we have plans for any particular scenarios that might develop, like administration, liquidation, or whether it might even result in having to for a phoenix club. We have plans for all eventualities depending on what happens" ... and for clubs like HRBFC, also how do we all get to Barcelona for the Champions League.
Hopefully Hampton & Richmond Borough fans can show good solidarity with the Torquay fans at the away match on Saturday 23rd March?
https://www.bbc.co.uk/sport/football/68372224
https://www.fairgameuk.org/
How on earth is a football club allowed to rack up £5m in loans, threatening its very existence?
We need to fix football club governance, and the governance of football.
We need an independent regulator down to step 4 - promised by the current government (to step 1), supported by all parties, tho' govt appear to be backtracking under pressure by Premier League big club owners.
In the meantime, the Torquay United Supporters Trust has been doing good work that every Trust can be doing:
"We have a strategy group that's been meeting regularly for the last two or three years and we have plans for any particular scenarios that might develop, like administration, liquidation, or whether it might even result in having to for a phoenix club. We have plans for all eventualities depending on what happens" ... and for clubs like HRBFC, also how do we all get to Barcelona for the Champions League.
Hopefully Hampton & Richmond Borough fans can show good solidarity with the Torquay fans at the away match on Saturday 23rd March?
https://www.bbc.co.uk/sport/football/68372224
https://www.fairgameuk.org/
Ebbsfleet is in the same position propped up by loans from the main shareholder. The commitment is never longer than one year so they could find themselves in Torquay’s position at some point. The TUST have a big task on their hands unless they have some financial investor willing to back them. NL rules require any Administration to pay out football creditors in full and provide a plan to pay out all other creditors 100% over a three year period maximum. This differs to a normal corporate Administration where certain creditors will not necessarily be paid. Failure to do this will result in relegation from the NL. Hence the attitude of Riviera Stadium Ltd who are the largest creditor will be crucial. Under NL rules their loan will be subordinated to all other creditors and therefore likely to be of worthless value. But unless they waive it, it seems likely any rescue package will fail leaving the most likely option being a phoenix club starting at the bottom rung of the pyramid. The question is why has the now ex Chairman pulled the plug now? Is there a buyer in the wings or something else going on?