Torquay United confirm take over by the Bryn Consortium

Torquay United have exited administration following a take over by the Bryn Consortium.

Having entered administration in April, the creditors have approved a Company Voluntary Arrangement which sees the Bryn Consortium completing its purchase.

Michael Westcott, Mark Bowes-Cavanagh, Tom Allen, Matt Corby, Rob Hawes and Simon Robinson have taken on 93% of the shareholding of Torquay United AFC Limited, with around 600 Torquay United fans owning the remaining 7% from historic share issues.

Commenting on the finalisation of the purchase, co-chair Mark Bowes-Cavanagh said:

“We are delighted that creditors have accepted the Administrator’s thoughtful proposal and that the transaction is now complete. 

“It now allows us to work with the staff at Plainmoor and execute on our plans at speed. 

“We’d like to say thank you to all the staff who have worked tirelessly over the past few months under extraordinarily difficult circumstances.”

Neil Warnock is among those to join the board as a non-executive director.

The National League South side avoided relegation by seven points last season, finishing 18^th after 11 points deducted.

They appointed Paul Wotton as manager earlier this month.