What Happens Next – FAQs
Following the announcement that Torquay United had appointed administrators on 5th April 2024, the Club has revised its FAQs, and will continue to be update these throughout this process.
Although no list of Frequently Asked Questions will ever be completely exhaustive, the intention is for this list to be updated as and when required, in order to keep our supporters in the loop throughout the process.
[Updated 05/04/24]
Who is running the Club whilst a new owner is being sought?
Scott Kippax, Neil Vinnicombe and Simon Haskew of Begbies Traynor have been appointed as joint administrators of Torquay United AFC Limited. They are legally advised by Robin Koolhoven of Stephens Scown LLP.
During this interim period, TUAFC is under the control of the administrators and directors George Edwards and Mel Hayman have accepted the administrators’ request to continue working for the Club on a voluntary basis, in order to help ensure Torquay United AFC continues to function as a professional football club, and to help facilitate the smooth transition of TUAFC to a new owner.
Once again, supporters are reminded that all donations are going towards operating expenses of the Club.
What does the term ‘administration’ mean?
When a company or Football Club can no longer pays its bills, the company can enter administration for its protection. In administration, all control of the company is passed to an administrator. Essentially creditors can’t take legal action unless permitted by the administrators or the court.
What is the aim of administration?
The process is to find a new owner/owner(s) to save Torquay United Football Club
Will the club be able play football and finish the season?
It is business as normal, whilst the Club is actively seeking a sale
What are the punishments for the club for incurring an Insolvency Event?
On 13th March 2024 it was announced that the National League had informed the Club that in accordance with Membership Rule 13A – Sporting Sanctions, Torquay United FC had immediately been deducted 10 points for incurring an Insolvency Event. In addition to this, the Club has also been placed under a Player Transfer Embargo.
What happens to money being generated by the Club for the time being?
All funds donated towards TUAFC will go towards paying essential operating expenses to facilitate ongoing trading. Donations can be made HERE. The Club would like to place on records its sincere thanks for all donations made – large or small, they are all gratefully received
What will happen to club employees ?
The Club’s aim is to find a buyer, and an onward sale would then see employees transferred to a new owner of the business, with their existing contracts. Alternatively, a change of ownership entailing the survival not only of the Club but also the underlying legal entity, would, of itself have no consequential impact on contracts of employment.