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Torquay takeover confirmed

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.

Torquay have been struggling for some time Credit: ITV West Country

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 .

Some fans aren't happy with the takeover Credit: ITV West Country

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Torquay United WILL have new owner

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.

– Torquay United

New hope for Torquay United

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."

Torquay have been looking for new investment for months Credit: PA

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.

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Watch: Tiverton Town's goalkeeper blunder

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:

Football: Win for Torquay, but Exeter City not so lucky

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.

A mixed bag of results for the West teams. Credit: ITV West Country

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.

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