A proposed deal between Torquay United and Gaming International has been called off after the two sides failed to agree a deal to purchase the freehold of Torquay's current ground Plainmoor.
Gaming International which made a bid for the club in March wanted to build a new stadium on the outskirts of the down and redevelop Plainmoor.
In a statement released today (Sunday) the club's Chairman revealed the deal had fallen through:
Torquay miraculously avoided relegation from the National League last season and had hoped to breathe new life into the club with a takeover bid. However, failure to agree terms means Torquay will now look for alternative investors to come forward. Gaming International had period of exclusivity which ran out on July 31st.
Manager Kevin Nicholson will hope off the field matters can be resolved quickly in order to further strengthen his side which at one point last season were 10 points from safety. Torquay travel to Macclesfield on the opening day of the season - August 6th.