Post by tufans on Apr 2, 2016 20:31:54 GMT
A great result today for Torquay United Football Club and their fans.
We have now had a number of responses from the official statement we added last night and it is clear to see that questions of a similar nature continue to be asked and in summary, question why we at Torquay United Fans LTD are not willing to support the efforts of the TUST. We therefore feel it is necessary to clarify our position to you the loyal fans of Torquay United FC.
We understand that many of you will be unaware that we have had meetings and numerous conversations in the past with the TUST, including the board and members, for the purpose of both the TUST and Torquay United Fans LTD to fully understand the intentions of both available organisations. It is here we question whether the TUST have the same grave concerns as we do about this new take over? Hence why we have returned to the forum, posted an official statement and again are pushing all fundraising opportunities to ensure the future of the club is a positive one.
We understand why the TUST initially agreed to hold back on raising funds whilst Torquay United launched their Players Fund, BUT now we ask, since the club is actively seeking new owners, why they wouldn’t kick start the fundraising once again? Especially as we honestly fear what the links that are being made between a number of the Directors of Gaming International Ltd, linked companies and their contacts, means for TUFC. (Please see the other thread on this forum titled – TUFC takeover bid – Gaming International Ltd).
The TUST has approximately 400 members whereas the TUFC fan-base runs in to the thousands
nationwide, hence the support we have already received. However similar our intentions seem, recent press releases, statements from the club and of course information from this forum has again highlighted to ourselves at TU Fans LTD that it may well be that TUFC has found itself once again at crisis point. Now again, you may question the intentions of this statement, given that the current board, especially the Chairman Mr David Phillips, appear to be adamant that the current deal that involves Gaming International Ltd taking over at TUFC is wonderful news. Given this information and a recent email we have received stating that the current board will be remaining in situ, we question
- Is it true that IF Gaming International Ltd takeover at TUFC that the current board will remain in position and therefore continue with the day to day running of TUFC?
In our opinion, it certainly makes it clear why Gaming International Ltd are the preferred buyers at this stage. It would suggest the current board would remain in position, have ‘stable’ funds for TUFC at this moment in time, as well as receiving any investment back. Although some may say they would be silly not to snatch their hands off, again, as fans we question the longevity of the club IF Gaming International Ltd takeover especially with their background and past dealings including Bristol Rovers, a relatively local football club which was in a similar position to ourselves here at Torquay. We also ask whether or not Truro will be refunded their investment by Gaming International Ltd on behalf of TUFC.
The TUST announced in their latest newsletter that they have funds of £18,000 unfortunately it appears that the TUST are not in a position currently to bid for the club with the funds available to them and therefore, we feel, with similar aims for Torquay United it is our duty, & pleasure that Torquay United Fans Ltd are able to reinvigorate all fundraising opportunities for the sole purpose of the survival of TUFC. We honestly believe we do not have any time to stall because soon it will be too late and we, fans of TUFC, may no longer have a club to support.
With reference to the covenant that the TUST have put in place for the football ground, as a matter of public interest:
We would like to make the situation surrounding this covenant very clear so that there is no element of doubt:
IF TUFC were to go bankrupt or be dissolved then the covenant would be automatically breached. The 65 years remaining on the lease would have no bearing other than to the individuals who lease Plainmoor from Torbay Council. They would then be in a position to make an offer to Torbay Council the land.
Given that, in this instance, TUFC would no longer exist, any covenant the TUST have would be null and void.
Should you be in any doubt as to the validity of this statement, then we recommend that you check it out with a solicitor who specialises in this field. We at TU Fans Ltd believe that Gaming International Ltd would have discovered this during their due diligence prior to taking over the club like we believe they have done when they invested in other football clubs and other organisations.
We respectfully request that the TUFC Board of Directors be up front and tell us exactly what it is that they want. If they truly have TUFC’s best interests at heart; then we politely ask that they listen to what the fans have to say, particularly with what the fans have discovered about Gaming International Ltd.
Based on the current support we are receiving; we intend to launch a massive fundraising campaign very soon. We do hope you will support us in our quest to keep the Yellow Army marching on.
Many thanks
Torquay United Fans LTD.
We have now had a number of responses from the official statement we added last night and it is clear to see that questions of a similar nature continue to be asked and in summary, question why we at Torquay United Fans LTD are not willing to support the efforts of the TUST. We therefore feel it is necessary to clarify our position to you the loyal fans of Torquay United FC.
We understand that many of you will be unaware that we have had meetings and numerous conversations in the past with the TUST, including the board and members, for the purpose of both the TUST and Torquay United Fans LTD to fully understand the intentions of both available organisations. It is here we question whether the TUST have the same grave concerns as we do about this new take over? Hence why we have returned to the forum, posted an official statement and again are pushing all fundraising opportunities to ensure the future of the club is a positive one.
We understand why the TUST initially agreed to hold back on raising funds whilst Torquay United launched their Players Fund, BUT now we ask, since the club is actively seeking new owners, why they wouldn’t kick start the fundraising once again? Especially as we honestly fear what the links that are being made between a number of the Directors of Gaming International Ltd, linked companies and their contacts, means for TUFC. (Please see the other thread on this forum titled – TUFC takeover bid – Gaming International Ltd).
The TUST has approximately 400 members whereas the TUFC fan-base runs in to the thousands
nationwide, hence the support we have already received. However similar our intentions seem, recent press releases, statements from the club and of course information from this forum has again highlighted to ourselves at TU Fans LTD that it may well be that TUFC has found itself once again at crisis point. Now again, you may question the intentions of this statement, given that the current board, especially the Chairman Mr David Phillips, appear to be adamant that the current deal that involves Gaming International Ltd taking over at TUFC is wonderful news. Given this information and a recent email we have received stating that the current board will be remaining in situ, we question
- Is it true that IF Gaming International Ltd takeover at TUFC that the current board will remain in position and therefore continue with the day to day running of TUFC?
In our opinion, it certainly makes it clear why Gaming International Ltd are the preferred buyers at this stage. It would suggest the current board would remain in position, have ‘stable’ funds for TUFC at this moment in time, as well as receiving any investment back. Although some may say they would be silly not to snatch their hands off, again, as fans we question the longevity of the club IF Gaming International Ltd takeover especially with their background and past dealings including Bristol Rovers, a relatively local football club which was in a similar position to ourselves here at Torquay. We also ask whether or not Truro will be refunded their investment by Gaming International Ltd on behalf of TUFC.
The TUST announced in their latest newsletter that they have funds of £18,000 unfortunately it appears that the TUST are not in a position currently to bid for the club with the funds available to them and therefore, we feel, with similar aims for Torquay United it is our duty, & pleasure that Torquay United Fans Ltd are able to reinvigorate all fundraising opportunities for the sole purpose of the survival of TUFC. We honestly believe we do not have any time to stall because soon it will be too late and we, fans of TUFC, may no longer have a club to support.
With reference to the covenant that the TUST have put in place for the football ground, as a matter of public interest:
We would like to make the situation surrounding this covenant very clear so that there is no element of doubt:
IF TUFC were to go bankrupt or be dissolved then the covenant would be automatically breached. The 65 years remaining on the lease would have no bearing other than to the individuals who lease Plainmoor from Torbay Council. They would then be in a position to make an offer to Torbay Council the land.
Given that, in this instance, TUFC would no longer exist, any covenant the TUST have would be null and void.
Should you be in any doubt as to the validity of this statement, then we recommend that you check it out with a solicitor who specialises in this field. We at TU Fans Ltd believe that Gaming International Ltd would have discovered this during their due diligence prior to taking over the club like we believe they have done when they invested in other football clubs and other organisations.
We respectfully request that the TUFC Board of Directors be up front and tell us exactly what it is that they want. If they truly have TUFC’s best interests at heart; then we politely ask that they listen to what the fans have to say, particularly with what the fans have discovered about Gaming International Ltd.
Based on the current support we are receiving; we intend to launch a massive fundraising campaign very soon. We do hope you will support us in our quest to keep the Yellow Army marching on.
Many thanks
Torquay United Fans LTD.
