Torquay United hopeful takeover will be concluded this week

TORQUAY UNITED acting chairman Bill Phillips says it is a “huge week” for the future of the club with a takeover set to be completed.

A consortium led by Dean Edwards are in the driving seat to take over at Plainmoor and they provided a proof of funds to ensure the Gulls’ place in next season’s Vanarama National League.

And Phillips says a deal should be tied up later this week with crucial financial decisions, including the playing budget, set to be made.

“I am out of the country from Friday and, therefore, the hope is for the deal to be complete or a long way down the line of being finalised by then, so an incoming consortium can get on with the business of running the football club,” Phillips said.

“Decisions need to be made on finalising the structure of the staff, finalising player budgets, finalising everything that is required before the new season can start.

“People have accused me of being non-communicative but there are so many questions I am unable to answer at this present time. The consortium led by Dean Edwards is definitely in the box-seat but the final decisions have to be made very soon.

“At the moment, the club is in limbo and, judging by the season-ticket sales, supporters are waiting for some definitive news. It is completely fair to say that we face a huge week in the future of Torquay United Football Club.”