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Gulls in administration

Former Football League club Torquay United are to be placed into administration as their owner can no longer fund the club: https://torquayunited.com/club-statement-12/

The statement says: 'The financing of football in this country is precarious and can only thrive in the lower divisions where there is either a close collaborative relationship with the local authority, it is a trophy asset or is backed by substantial local individuals and businesses.

I believe that it needs a fundamental overhaul of its financing structure, rights distribution in the lower leagues and recognition that many clubs represent a fundamental part of the local community and its visitor attractions. Ambitious Clubs should in my opinion be given special status in their push to bring in investment, develop facilities, bring spend and employment to the local economy.'

Osborne has made several mistakes since taking charge in 2016, but he has lent the club £5m to keep them afloat. He is unlikely to get much of that back.

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