TORQUAY UNITED chairman David Phillips has expressed his frustration at the delay in the takeover of the National League club.
The Gulls announced back in March that they were in “advanced” talks with Swindon-based Gaming International Ltd but negotiations have since moved slowly.
The club, who also had an American firm propose a new 6,000 capacity ground in exchange for council land to build new housing on, were hoping to have the deal complete before Monday's annual general meeting.
Phillips became chairman in June last year after the Dean Edwards led consortium took over the Gulls from lottery winning former owner Thea Bristow.
Torquay just about stayed in the National League following the appointment of club favourite Kevin Nicholson as player-manager.
Gaming International Ltd's period of exclusivity ends on July 31 and Phillips says the deal could go right down to the wire.
“I was really hopeful to make a definitive statement today,” Phillips said after Monday's AGM. “It will probably go right to the last day. We're all frustrated, as the fans are, that it's dragged on for so long.
“I was on the record as saying that by the end of the season we'd have hoped that the deal would have been concluded, but it never was.
“We've talked about plan Bs, which I can't go into. We're still hopeful that a deal will go through, but we just don't know at this stage.”
