Torquay United sale to club's new owners agreed

Michael Westcott of the Bryn Consortium says there will be a series of updates for Torquay United supporters after the club’s administrators revealed a sale agreement has been reached between the two parties.

The Bryn Consortium, made up of Torquay fans Michael Westcott, Mark Bowes-Cavanagh, Tom Allen, Rob Hawes and Simon Robinson were named the preferred bidders after talks with a former preferred bidder fell through - and now they have agreed a deal to buy Torquay, fans will want to know what their plans are for the managerless and playerless National League South club.

Torquay was placed into administration after former owner Clarke Osborne failed to find a buyer after he cut his financial lifeline in February. But with the sale having been now agreed, a positive outcome after months of uncertainty looks to be just a handful of paperwork away.

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The statement from the administrators released just before midday read: "A sale agreement for Torquay United AFC Limited has been reached with The Bryn Consortium of Michael Westcott, Mark Bowes-Cavanagh, Tom Allen, Rob Hawes and Simon Robinson, subject to creditor approval.

"The proposed company voluntary arrangement would see all tax debts and trade creditors paid in full within six months. Under the terms of the agreement, Torquay United AFC Limited would continue to operate the football club with the new owner becoming the controlling shareholder.

"Scott Kippax, joint administrator, and partner at Begbies Traynor’s Exeter office, said: “This proposal is the best possible outcome for creditors, the club, and the fans. We are delighted to have reached the point of a conditional sale agreement, which would see all tax debts and trade creditors settled in full in a relatively short period of time. It is good news for the long-term future of the club, and we are pleased to be able to present such a favourable proposal to creditors.”

Westcott, who has been leading the Bryn Consortium, added: “We are delighted to have provided a positive outcome for all creditors and provided a future for our beloved football club. There is much work to be done in the coming days and weeks, and we will issue a series of updates to supporters next week on the preparations and plans for the forthcoming season.”

Nick Brodrick from Torquay United Supporters' Trust welcomed the news, saying: "Like the club statement says, there is obviously going to be a lot of work now. There has been a lot of work but it is going to intensify as we go through the next few weeks."

TUST are due to have a meeting with the Bryn Consortium after the weekend. A statement from the trust read: "TUST is delighted that the Bryn Consortium are the new custodians of Torquay United, heralding a new era for the long-term future of our football club.

"Now that the consortium's involvement is official members of the TUST board are to meet with the Bryn Consortium on Monday to formalise TUST's involvement, and importantly, fan engagement in the running of Torquay United."

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