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Torquay United will go into administration the club's owner Clarke Osborne has confirmed.
The Gulls currently play in the National League South – in the sixth tier of English football – where they sit 11th in the table.
Now, almost 10 years after having been relegated from League Two to what was then the Football Conference Premier (now the National League) the future of the club again remains uncertain.
Osborne bought the club in 2016 but now is unable to continue to fund it and has stepped down from his role as Chairman of the Board.
"The administrator’s role is to try and stop TUAFC being wound up (liquidated) by finding someone who will take the club on," a message from the owner to the club's supporters said.
"Administration doesn’t necessarily mean the end for a football club. In recent years, clubs such as Southampton and Huddersfield have entered administration. Both clubs have come out of the other side of those financial difficulties and have enjoyed time back in the top flight recently.
"We appreciate there are a lot of questions that supporters will have, and in order to assist the club will have a question and answer article which will be updated on a rolling basis, this will be live as soon as possible."
🟡 Club Statement
— Torquay United AFC (@TUFC1899) February 22, 2024
Clarke Osborne has today issued the following statement regarding TUAFC.
👉 https://t.co/cZ1KC8MNbn#tufc pic.twitter.com/7zjQvKhDrL
