Torquay United: Investors interested in stake in club
- Published
The 'Bristows Bench' stand at Plainmoor, which was funded by Thea Bristow
There are a number of groups interested in investing in Torquay United, according to the man tasked with trying to find a buyer for the club.
Kelvin Thomas says he expects more interest to come in the next few days.
It follows millionaire chairman Thea Bristow's decision to leave the club at the end of the season.
"There are some interested parties and I think with this announcement there'll be a few more in touch over the next few days," Thomas told BBC Sport.
"There's some that have got an NDA (non-disclosure agreement) out there and I'm sure we'll have discussions with the Torquay United Supporters' Trust," Thomas added. "They indicated it's their desire to own or run the football club."
Torquay's highs and lows under the Bristows | |
|---|---|
May 2007: Relegated to conference. A new board, including Paul Bristow, assumes control. | May 2008: Lose Conference play-off semi-final to Exeter and are beaten in FA Trophy final by Ebbsfleet |
May 2009: Beat Cambridge United in Conference play-off final at Wembley. | June 2010: Paul Bristow passes away aged 59. His wife Thea takes over his place on the club's board. |
May 2011: Torquay are beaten by Stevenage in League Two play-off final. | May 2012: Torquay are beaten in League Two play-off semi-finals by Cheltenham Town. |
May 2013: Sacks manager Martin Ling after he spent four months away from the club because of depression. Replaces him with Alan Knill. | January 2014: Sacks Alan Knill with the club bottom of the Football League. |
April 2014: Torquay relegated to the Conference. | March 2015: Thea Bristow steps down from the club. |
Whoever does invest in the club will do so without having to inherit any debt.
Thea Bristow, who inherited her place on the board when her husband Paul died in 2010, is converting all of the £3m her family has invested from their £15m lottery win into shares in the club.
"Once people realise the generosity of Thea in all this and realise the impact of that in terms of not having to pay a tremendous amount to get involved with the football club, it'll be interesting," said former Oxford United chairman Thomas, who has been advising Thea Bristow since January.
"But this isn't a situation where you can walk into the football club with no money.
"There is a certain reality to running football clubs where there has to be levels of cash injected throughout the year to ensure that the club is sustainable or solvent.
"Thea is handing the club over without any debt, but to run the football club and to operate and to have cash flow, so people coming in will have money.
"It's easy to say you want to buy a football club, but there will be cash required."
- Published12 March 2015
- Published12 March 2015
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