TORQUAY UNITED chairman David Phillips says the club is available for less than a “big detached house” and reckons the deal is a “bargain”.
The cash-strapped Gulls were forced to drive to their game at Boreham Wood on Saturday with the club unable to afford both coach travel and a hotel.
The club looked close to securing new investment earlier this year but after months of negotiations, Swindon-based Gaming International Ltd’s interest came to an end.
Following that disappointment, chairman Phillips said it was “pretty obvious to everyone” that the Gulls required a cash injection.
Talks are ongoing between the Torquay board and a number of potential investors with Phillips saying a consortium, rather than one individual, are more likely to come on board.
“We are still talking to those people. but we are getting to the point now where someone is going to have to get their chequebook out,” Phillips told the Torquay Herald Express.
“I’m not going to quote any figures, but for the price of the club you wouldn’t buy a big detached house. On the face of it, it’s a bargain.
“But to keep us sustainable, forgetting about things like a new stadium for the time being, it does then cost money every year.
“It may well end up with more of a consortium, taking a smaller share each, rather than one person owning it in future. That is a possibility.”
