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TUST Update - CROWDFUNDING

Updated: Apr 20


CROWDFUNDING



Thank you on behalf of the Torquay United Supporters' Trust (TUST) for those of you who have donated funds to our Crowdfunder donation page over the last 8 weeks. The total sum raised was £5710.



The standard time period for the project has now been reached and as such this specific crowdfunding exercise has ended. The original objective behind the fundraising was to provide an independent fundraising vehicle for fans to donate to should they desire, in the knowledge funds would be used in a responsible manner towards the goal of finding a financial solution so that we can continue to support the club we love.



As you may be aware, a bid was recently put together and submitted by TUST in conjunction with a local consortium of fans who were willing to inject capital to purchase the club. However, an alternative offer from an as yet unknown prospective purchaser was given “preferred bidder” status by the administrator for the club on Tuesday 9th April. Assuming due diligence is undertaken to the satisfaction of the prospective purchaser, TUST hope to engage as soon as possible in order to work together with this 3rdparty for the long term benefit of the club.


In the short term, the proceeds from the crowdfunding exercise will be added to the TUST Forever Yellow fund whilst the administration process concludes. Clearly the allocation of this capital together with other funds held by TUST will be dictated by the outcome of the current process.



If TUST are called on to re-enter the bidding process at any point it is likely a further Crowdfunding page will be created in conjunction with a possible Community Share Issue. However, for the time being the Crowdfunder project has completed.



In the event you wish to donate funds to TUST at any point, such donations can continue to be made directly to our main bank account. If you wish to do this or indeed if you have any queries in relation to the current position regarding this crowdfunding exercise, please email us at info@tust.co.uk



For those of you who have donated, thank you once again for your donations which will be used wisely in due course.






 


SUPPORT TUST - SUPPORT YOUR COMMUNITY


 





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