Torquay United Accounts

Chairman Clarke Osborne, during the pre-season The Fans meet Torquay United at Plainmoor, Torquay, D

Chairman Clarke Osborne, during the pre-season The Fans meet Torquay United at Plainmoor, Torquay, Devon on July 31 - PHOTO: Sean Hernon/PPAUK - Credit: Sean Hernon/PPAUK

A government grant and the 'Covid Furlough' Scheme helped Torquay United to cut their losses in the club's latest accounts to the end of the 2019-2020 season. 

The Gulls' owner Clarke Osborne, through his Riviera Stadium Ltd, still appeared to have increased his investment in United to more than £4 million by the end of June 2020. 

But they received £50,000 in grants and £235,612 via Furlough payments after the first 'lockdown' which prompted the early end of the season in March of last year. 

The pattern will have been repeated, but on a larger scale, during the just-ended 2020-2021 campaign which saw United reach the National League Play-Off Final. 

Osborne covered losses of just over £959,000 in 2017-2018 and nearly £944,000 in 2018-2019, but the deficit dropped to £811,265 the following year. 

More details will be revealed at the club's next annual shareholders' meeting, which will take place, via 'Zoom', on Friday, July 23. 

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