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Sale agreed for Torquay United

The board of directors for Vanrama National League side, Torquay United, have agreed to sell the club.

Advanced talks between Midlands based investors and the club have been held after unsuccessful talks between the club and a Canadian consortium ended in November.

The club hope that the deal will be complete by 16th December.

A statement from Torquay United said "The board of directors are pleased to announce that they entered into an agreement to sell the club, subject to final contract and due diligence. Due to a contractual requirement for confi­den­ti­ality, the board will not release any further statements until 16 December (or completion of the sale if earlier)."

A group of local busin­es­spe­ople took over the club, who were in financial difficulties, last summer. After taking over the group had to cut costs which included ending the academy, cutting the player budget and thier manager acting as bus driver for the team as well as being manager.

 

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