A group of Devon businessman, led by Torquay United's commercial manager Dean Edwards has tabled an offer to take over the club.
Former owner Thea Bristow last week passed 80 per cent of her shares in Plainmoor Ltd, to a group of directors and it is that controlling interest which Edwards' group is trying to acquire.
Thea Bristow has officially handed over ownership of Torquay United after transferring 80% of her shares over to a group of existing directors.
Today is a bitter sweet day for me. I have transferred the majority of my shares and it has closed the chapter of my ownership of the club. I certainly have had mixed emotions throughout this whole process, but know that it is the right decision for me and my family.
I look back and hopefully Paul and I made a bit of a difference. There have been some great times and some not so great times, but overall, whatever decisions we made, they were always in the best interests of the club.
One thing I do know is that whenever I come to the ground, I am always so proud of seeing Bristow’s Bench and the lasting legacy to both Paul and the club.
I, like any fan, can’t wait to see us back in the Football League and look forward to cheering the team onto that.
I wish the Directors in luck taking on this challenge. For me, knowing I had to move on, this route has given me the chance to pass my shares onto people who know and care for the club, especially in time for any Conference deadlines.
The Directors have assured me that they will continue speaking to the TUST and other consortiums for further investment or help, plus that they have the capability to run the club next season. I am sure they will announce their plans more formally over the coming weeks.
I look forward to watching and supporting as a fan and thank you for all the support and kind wishes during my time as Chairman.
The crew of the Plymouth-based submarine, HMS Torbay, have been granted the freedom of Torbay.
After an official service the submariners paraded through Torquay town centre, exercising their right to march through the borough bearing arms.
Talks to sell Torquay United to an unknown bidder have broken down, the club has said.
In April, current chairwoman, Thea Bristow confirmed she was in formal talks to sell her share of the club after announcing her resignation from the role due to ill health.
While this news came as a setback, this is not time for doom and gloom, as talks with other interested parties have already reopened, including a lengthy meeting at the Launa Windows Stadium over the weekend.
The incredible generosity of Thea Bristow has left Torquay United in a healthy position for new people to move this club forward and the hard work of finding fresh investment is well under way.
The club also revealed it had received an anonymous donation from a supporter.
A care worker has been charged with sex attacks on two elderly women residents at a care home in Devon.
Christina Sethi, who's 25 and from Torquay, has appeared before magistrates in the town on three counts of sexual assault. The alleged offences took place at a residential home in South Devon. Ms Sethi has been remanded in custody.
Thea Bristow has confirmed she is in formal talks to sell her share of the club.
Torquay United made the announcement following last night's 1-0 win against Lincoln City.
The club says they will not comment further until contracts have been exchanged.
There has been a lot of hard work to get to this point, and I travel hopefully that we will be able to conclude this deal.
It is a big decision to announce at this point, but we all know the way that football works and it is very difficult to keep anything under wraps once a few people know, so I felt it was important to inform you all of this milestone myself. That way you know that the work is continuing to find a solution.
It is safe to say that this does not mean we are over the line yet, but it is a major step in the right direction. I am also really pleased that the last few results have been positive and I look forward to the final two games of this season.
Thea Bristow has been confirmed as Lifetime President of Torquay United.
Vice Chairman Bill Phillips says Thea’s contribution to the club is " unparalleled" and the Board felt it was important they showed it.
I am very proud of my involvement with the club and will gratefully accept the title of Lifetime President.
This means that I will step down as Chairman with immediate effect. Whilst I made the earlier decision to go at the end of the season, it has become increasingly obvious to me that the interests of the club are better served by allowing the Board to continue the plans for the rest of this season, particularly as they will naturally impact upon next season as well.
I am afraid I will continue to be an ever-present sight and sound at Torquay's matches, waving and ‘clacking’ in what I hope is a Presidential manner.
World travellers have voted Torquay as one of the best UK destinations.
The seaside town in Devon came fourth in the TripAdvisor survey - behind London, Edinburgh and Llandudno.
Police are investigating after a man's body was found floating in the water in Torquay.
The Coastguard recovered the body, off Torre Abbey Sands Beach, and the ambulance were called, but the man was pronounced dead on arrival at Torbay District Hospital.
The road from the Promenade to Pierre Bistro is currently closed.
Torquay United has confirmed club Chairwoman Thea Bristow will step down at the end of the season.
Thea said she had taken the decision because of ill health, and to allow others to take the club forward. She will continue to fund the club until the end of the financial year and will transfer her loans into shares in order to pass them on debt free.
She became a member of the board in 2010 after her husband Paul, who helped fund the club after winning £15 million on the lottery, passed away at the age of 59.
Thea, who took up the role of chairwoman in 2013, has been trying to sell the club and has brought in former Oxford United chairman Kelvin Thomas to find a buyer.
I have been thinking about this decision for a while and it is best for me and my family that I step down to allow others to take the club forward.
As I am sure people will appreciate, the role of Chairman can be a stressful one and recently it has had an impact on my health. Therefore, now is the right time to say that I think I have done enough.
Torquay are currently talking to a group thinking about buying the club. Torquay United Supporters' Trust are also reportedly interested in owning the club.
The club can also confirm that Director Alan Bristow will be stepping down at the same time.
Finally, I would like to thank the fans, my family and friends for all the kind wishes and support over the years and I look forward to being a noisy part of the Yellow Army for years to come.