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.

Share this article now:
Mansfield Town manager Paul Cox watches his team play Nottingham Forest during a friendly match on July 13, 2013
Read Next:
Paul Cox placed in charge at Torquay United
>
You May Like
Recomended from Sports Mole

Loading ...

Failed to load data.

Subscribe to our Newsletter


Transfer Talk Daily
Match previews - twice weekly
Morning Briefing (7am UTC)
Ultra close-up image of Kevin De Bruyne [NOT FOR USE IN ARTICLES]Get the latest transfer news, match previews and news direct to your inbox!
Tables
TeamPWDLFAGDPTS
1Macclesfield TownMacclesfield3318874335862
2Tranmere RoversTranmere341610853312258
3Aldershot TownAldershot331610752341858
4Wrexham341513639261358
5Sutton UnitedSutton33169847371057
6Boreham WoodBoreham Wood331511749331656
7Fylde3414101058431552
8Bromley331491055401551
9Dover AthleticDover Athletic331312845301551
10Ebbsfleet34121394440449
11Dagenham & RedbridgeDag & Red33139115142948
12Maidenhead UnitedMaidenhead331111114646044
13Eastleigh341014105255-344
14Gateshead331013104135643
15Woking33126154351-842
16Leyton Orient33109144147-639
17Maidstone UnitedMaidstone33912124051-1139
18Hartlepool UnitedHartlepool32910133847-937
19Barrow32811133944-535
20Halifax Town33811143446-1235
21Solihull MoorsSolihull3396183549-1433
22Chester FCChester33612153053-2330
23Torquay UnitedTorquay Utd3469193057-2727
24Guiseley33410192962-3322
Login, I already have my ad-free pass
Log in with Facebook to customise Sports Mole
Buy ad-free access (show me the options)
Buy monthly ad-free access for £1.20/month
Buy yearly ad-free access for £12 (2 months free)
Settings - Logout - Manage your account
Settings - Logout - Manage your account