Torquay United plunges into administration
It comes after the club's owner announced he can no longer fund the National League South side
On its 125th anniversary, it's been confirmed National League South club Torquay United are heading into administration.
It's after the club's owners Clarke Osborne announced he can no longer fund them.
He has owned the club since 2016 after he bought it from a fan-led consortium - Osbourne has also stood down as club chairman.
In a statement, Clarke Osborne said: âIt is with sincere regret that I advise that circumstances beyond my control during the last five weeks have brought me to the position that I am unable to continue financial support for the Club and I have today filed on behalf of the Directors, an intention to appoint an administrator to the Club and Company.
"The prospect of creating a new stadium and commercial facility was the driver for the investment, the excitement to deliver something truly transformative for the Club and Torbay.
"I would reiterate what I have said many times, that Torquay United is blessed with fantastic, passionate support and I am sorry that we have not been able to reach our goal for the Club and fans, despite significant effort and investment.
"I would like to pay a personal tribute to both George Edwards and Mel Hayman who have worked tirelessly for this Club, voluntarily. Their selfless time commitment, and passion for the Club has been limitless despite some very difficult headwinds.
"I also pay tribute to the entire Torquay United family, the Team both on and off the field of play, for their hard work, commitment and in some instances on a voluntary basis.
"The financing of football in this country is precarious and can only thrive in the lower divisions where there is either a close collaborative relationship with the local authority, it is a trophy asset or is backed by substantial local individuals and businesses. I believe that it needs a fundamental overhaul of its financing structure, rights distribution in the lower leagues and recognition that many clubs represent a fundamental part of the local community and its visitor attractions. Ambitious Clubs should in my opinion be given special status in their push to bring in investment, develop facilities, bring spend and employment to the local economy.
"I have today stepped down as Chairman of the Board.
"Now is the time for the Club, supporters, Torbay community and the Local Authority to come together and continue on the path to the future. I will assist a change of ownership where and when invited. The detailed plans, proposals and related data for the proposed developments will be gifted to the Club as will any time requested to assist in the future planning and development.â
Message to fans
The club have told fans that their support is needed now 'more than ever'.
They're urging people to 'come and support your team' - with all of the cash being raised from sales of things like tickets, meals, and replica kits, will be 'solely for operational purposes' and to help with the running of the club.
They say helping now gives them 'the best chance of finding new owners' - and the best opportunity continue their 125-year legacy.
They take on Aveley at home this weekend.