One 'preferred bidder' in Torquay United ownership race

One preferred bidder is leading the race to take over ownership of Torquay United Football Club.

Former chairman Clarke Osborne announced his intention to step away from the club on February 22 and the Gulls have subsequently been deducted ten points by the National League, and formally entered administration.

A consortium of local business-people, in partnership with Torquay United Supporters Trust, declared their interest as confirmed bidders last week but the club has not confirmed the identity of this ‘preferred bidder’.

The full statement reads: “Torquay United AFC is pleased to advise its supporters that a preferred bidder to take over the Club has now been identified.

“Following on from the announcement last Friday that Scott Kippax, Neil Vinnicombe and Simon Haskew of Begbies Traynor have been appointed as joint administrators of the Club, extensive work and discussions have been taking place behind the scenes over the past few days.

“Out of the firm bids received by TUFC, one party has now been identified as the preferred bidder.

“Although the preferred bidder will remain confidential at this stage, this news is the latest, and perhaps most significant yet, towards securing the Club’s long-term future.

“We will continue to provide supporters with further updates as and when possible, however in the meantime, we would like to place on record our thanks to all bidding parties, the Club’s staff, National League, Sport England, Lloyds Bank, Club’s Creditors and most of all our beloved supporters for their hard work, assistance, generosity and patience during the past two months.”