Mark L
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Post by Mark L on Oct 31, 2016 13:01:31 GMT
... is no news. So business as usual at Plainmoor.
Has anyone spotted a cavalcade of Chinese investors lurking in Marnham Road yet? Or perhaps a few GI-related planning permission notices appearing on lamp-posts? Maybe the TUST have gathered in their masses with pitchforks and lanterns? Or is Pete Masters sharing a cigar with Dave Phillips in conspiracy corner?
Hitting refresh on several websites is providing no nuggets of information as of yet (what's new as a TUFC fan). I'm expecting an e-mail of complaint from my IT department any time soon.
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Mark L
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Post by Mark L on Oct 31, 2016 13:19:43 GMT
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Post by plainmoorpete on Oct 31, 2016 14:00:12 GMT
Jesus wept...
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rjdgull
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Post by rjdgull on Oct 31, 2016 15:02:13 GMT
Sometimes you need to make a decision for better or worse. If they have got a better option or look likely to get one that is better than TUST then say so. What you cannot do is fall between two stools!
This is the chairman that was 99% sure the GI deal was going to go through so haven't got much if any confidence in him I am afraid.
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Mark L
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Post by Mark L on Oct 31, 2016 15:09:11 GMT
Next news dribble.... www.bbc.co.uk/sport/football/37826795"There are two definite offers, and possibilities for others," chairman David Phillips told BBC Sport. The club had been considering an offer from the Torquay United Supporters' Trust, but theirs is not one of the two new bids. "Somebody has to move forward and hopefully in the next couple weeks we'll know which way we're going," added Phillips. "The sooner the better as far as everyone is concerned, these things can drag on and we need it to be done." |
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rjdgull
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Post by rjdgull on Oct 31, 2016 16:51:14 GMT
link - Now in the Herald Express - hopefully TUST have been informed together with reasons why their interest was not deemed suitable. Tick Tock......
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simonb
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Post by simonb on Oct 31, 2016 17:30:43 GMT
Just wonder whether David Phillips has got the mental capacity to deal with the situation at TUFC - fiddling and Rome burning comes to mind. Still no apparent progress and little to be optimistic about - does he just make things up as he goes along?
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rjdgull
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Post by rjdgull on Oct 31, 2016 20:48:56 GMT
May be, but going to GI six months later due to defaulting on loans doesn't raise my confidence in him I am afraid...
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rjdgull
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Post by rjdgull on Oct 31, 2016 21:48:20 GMT
Taking out loans that cannot be repaid and using the club as collateral is very worrying as well.
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rjdgull
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Post by rjdgull on Nov 1, 2016 13:57:42 GMT
Taking out loans that cannot be repaid and using the club as collateral is very worrying as well. Confirmed by TUST today that if a six figure SECURED loan by GI is not paid in full by January that ownership will revert to GI! GI will then surely look at how the club's assets can be liquidated to give them the biggest return. They have no interest in the football side of things. Probably as bad as it gets...... And yet the directors are still whistling in the dark, rejecting TUST with any other suiter now knowing how bad things are and desperate these people are..... |
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Mark L
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Post by Mark L on Nov 1, 2016 15:27:56 GMT
Confirmed by TUST today that if a six figure SECURED loan by GI is not paid in full by January that ownership will revert to GI! GI will then surely look at how the club's assets can be liquidated to give them the biggest return. They have no interest in the football side of things. Probably as bad as it gets...... And yet the directors are still whistling in the dark, rejecting TUST with any other suiter now knowing how bad things are and desperate these people are..... Yes, read the email from Michael, earlier. The only thing I don't understand is where Michael has said ' Had our offer been accepted TUST would have immediately conducted due diligence alongside opening negotiations with the club's main creditors. We anticipated launching a share issue towards the end of November.' What is to stop TUST putting everything in place so that when it all looks to be going tits up in January it can step in then? I'd quite happily chip in and pledge money, and write that money off if it was needed. If in the end that cash isn't needed, then TUST could refund those that paid in. Even if there was some form of admin fee that prevented the full amount being refunded, I would still be happy to help. I'm sure I'm not the only one. It would also help to show whether there is sufficient interest in saving the club, from the community. While there is still doubt in whether the safety net is actually required you will only get a half-hearted campaign (however hard you try). If it is a case of TUST or nothing, that's when you will see the full force of the fans. I'd say administering a down-payment in lieu of some future potential community share offer would be a nightmare and not very attractive whereas a straight sale of shares would be a doddle in comparison. Until TUST are handed ownership of the club, that will be impossible. You could sell a virtual share scheme and the funds kept aside for the day it is needed but it wouldn't have the same appeal and, once again, it would be half-hearted. I really am sick of this situation. It's the stringing along that has upset me the most. Incompetence I can cope with (I mean, we pay to watch it from the terraces most weeks) but I feel the whole situation is disingenuous and is about to lead to Clarke Osborne getting his wrecking-ball hands on the home of Torquay's football for the past 95 years. We also have a football manager who has done all he can to keep our team afloat with absolute dignity despite what is happening behind the doors and his pathetic budget.... he deserves a lot better. What can the fans do until Dave Phillips and 'the board' (who are they!?!) let us have our club back? He has the power and, unless there is a mass revolt against him, we're looking at buying a new flat at Plainmoor heights. Can we wait until 12 and a half weeks until our loan is due? No, I don't think we can. |
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sam
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Post by sam on Nov 1, 2016 15:48:17 GMT
Correct Florida Gull. That can only be the way forward. At least pledge or get the TUST to hold the money with a view to creating a war chest in the event things going TU (pardon the pun) by the 31st January. 91 days to go.
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Rob
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Post by Rob on Nov 1, 2016 18:34:14 GMT
Jon has already highlighted when community share issue fundraising succeeds. Something which Mark has also highlighted. Without the local press or current TUFC Board being fully behind it, it will be hamstrung in terms of potential. Things might be different when there is a GI ownership in situ come February, as many might rally against that ownership for obvious reasons. That said, GI have a pretty good media machine that they have used in other parts of the country to their desired effect and I doubt the Herald Express will be necessarily quick to upgrade its view of Trusts as lawnmower replacers even with property developers at the helm.
I note on another forum that a few posters have immediately ceased payments to the Players Fund and are putting that money into the Forever Yellow Fund. Perhaps that's the way to go whilst the Club gets passed to the property developers, Flo? Some shots in the arm of funding mightn't be the worst catalyst.
Am also reading elsewhere a rumour that GI and Masters will be pairing up and Nico is to be replaced by Tully. Plenty of food for thought for those going to the forum tomorrow.
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simonb
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Post by simonb on Nov 1, 2016 18:45:54 GMT
Reported on another site - Masters and GI take control, KN out Steve Tully in. A wretched mess with the club sinking to new depths after shite boardroom "leadership" for a number of years. Not convinced of a bright future ahead - more likely than not we will be routed in the bowels of non-league football for eternity!
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rjdgull
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Post by rjdgull on Nov 1, 2016 18:48:17 GMT
link - club statement which can be summarised as letting go of the bird in hand to go for the two in the Bush!
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