MX23RW : Saturday, September 22 07:51:12

Torquay United takeover bid collapses over sale of Plainmoor stadium

The proposed takeover of National League side Torquay United falls through after bidders Gaming International pull out over a deal to purchase Plainmoor.

A proposed deal between National League side Torquay United and Gaming International has been called off after the two parties failed to agree a deal to purchase the club's ground.

The Swindon-based bidders wanted to build a new stadium for the Gulls on the outskirts of the town, paid for by redeveloping Plainmoor, but Torbay Council, which owns the stadium, could not come to a deal over selling the ground to GI.

"We encountered a major stumbling block over GI's instance on the purchase of the freehold of Plainmoor which was not a part of the memorandum of understanding we had with them," Torquay chairman David Phillips said in a statement.

"As a consequence we are now actively talking to and inviting interest in Torquay United from parties who share our vision and passion for this great club."

The firm's period of exclusivity ran out on July 31, having first made a bid for the club at the end of March.

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