Torquay United Takeover In Jeopardy Over Hiccup In Sale Of Stadium To Investors

National League side Torquay United Chair David Phillips said that a "planned takeover could collapse if the new owners cannot buy the club's Plainmoor ground," according to Brent Pilnick of the BBC. The freehold is currently owned by Torbay Council, but prospective buyers Gaming Int'l Ltd. "want to sell the ground and build a new stadium on a different site." Torquay entered into "an agreement with the Swindon-based firm in March." Phillips said, "There's a pretty good chance of it falling down." If the club cannot complete a deal by July 31, Torquay "will look for new investors as there will be no extension to Gaming International's period of exclusivity." In February, the club "first mooted the idea" of leaving its home of 105 years and moving to a new purpose-built ground with a synthetic surface on the outskirts of the town. Under the deal, the developers "would pay for the stadium in exchange for council land to build housing on" (BBC, 7/19).