Torquay United have today confirmed that the takeover of the club has finally been completed.
Riviera Stadium Limited a subsidiary of Gaming International were due to take over yesterday but a last minute legal hitch held up the deal.
The Gulls Chairman David Phillips said if it didn't go through there was a real prospect of the club entering administration.
No representatives from GI were at Plainmoor today but they are expected to be in attendance for the Gulls next match which is the Boxing Day game at him to Forest Green
United's Manager Kevin Nicholson said he's spoken to Clarke Osborne from GI on the phone this morning he's told him he wants to introduce a five year plan to get the club on a firm financial footing and a footballing force .
A press conference at Plainmoor was planned for Monday morning but so far no representatives from Gaming International have appeared.Read the full story ›
Torquay United will have a new owner as of Monday (December 19) after the board unanimously approved the club's sale.
A 'subsidiary of Gaming International' Riviera Stadium Limited will own the controlling stake of the club.
In an statement they said:
The Board OF TUAFC are pleased to announce that they have today unanimously approved the sale of a controlling shareholding to Riviera Stadium Limited (RSL).
It is expected that contractual terms will be finalized on Monday 19th December, subject only to formal approval to the takeover by The Football Association National League.
A further release will be issued on Monday 19th December.
The TUAFC directors are hoping that the completion of the RSL deal will put an end to a protracted period of uncertainty, and offer the Club the opportunity to develop and succeed, both on and off the pitch.
RSL is a member of the Stadia UK division of Gaming International Limited, a UK-based leisure group.
The Seagulls have been in talks with a number of organisations for almost a year to secure the sale of the club.Read the full story ›
Torquay United Football Club could be closer to finding a new owner. The club board held a meeting this afternoon to discuss "two or three takeover offers on the table."
The club's chairman Dave Phillips told ITV News West Country that nothing has been decided yet but he "would be extremely disappointed were there not more concrete news by the middle of next week."
The struggling National League Club has been searching for new investment for over a year now since long-term benefactor Theo Bristow withdrew her backing.
The proposed takeover of national league side Torquay United has fallen through after bidders Gaming International (GI) pulled out.Read the full story ›
It might feel like the season has only just ended. Especially with a summer dominated by the European Championships and, now discussions around the new England manager.
But for our local sides, this is the month where title winning teams are forged.
Tuesday night's friendly between Torquay United and Tiverton Town, was precisely the chance to test the metal of two teams who will both be vying for promotion next season.
Unfortunately it wasn't a night to remember for Tiverton's keeper, who fumbled the ball into his own net. The final score ended 1-1:
Torquay are preparing for a season-defining game - one more win will see the side safe from relegation - something many thought impossible.Read the full story ›
In tonight's football, Torquay United have continued their unbeaten run in the National League.
The Gulls have drawn 0-0 with promotion-chasing Braintree at Plainmoor.
In tonight's football, it was honours even in the West Country derby at Huish Park, where Yeovil and Plymouth Argyle finished goal-less.
Elsewhere,Paul Tisdale's 500th game in charge of Exeter City has ended in disappointment. The Grecians lost 4-1 at home to Oxford. Alex Nicholls scored Exeter's consolation.
But it's back-to-back wins for Torquay United in the National League. The Gulls have beaten fellow strugglers Welling 2-0 at Plainmoor.
Nathan Smith and Iffy Allen with the goals in the second half.