Torquay register losses in new owners' first year

Mark Bowes-Cavanagh (left) and Michael Westcott are co-chairs of Torquay United and part of the ownership group [Shutterstock] Torquay United made a loss of £742,438 in the first year after coming out of administration. The Gulls, who were taken over by the Bryn Consortium of local businessmen in May 2024 , have lodged their accounts for the year to 30 June 2025. Torquay finished second in National League South last season, missing out on the title on goal difference to Truro City before being knocked out in the play-off semi-finals .

For much of the year, the club was still operating under a Company Voluntary Arrangement to repay creditors after former owner Clarke Osborne had put the club into administration in February 2024 . The club generated more money - rising to £2. 26m from £1.

88m - and had a gross profit of £517,978. But the Gulls still have legacy losses of £3. 17m that have accumulated over the past few years.

The figures also show that the club's owners - through their company Big in Business Limited - gave the club £661,313 over the year. "This figure reflects the initial capital funding injected by Bryn, which was used to repay creditors during the period of administration," a club statement read. It added: "Progress has been made but there is still more work to do and everyone at the club remains focused on improving the financial position over time while continuing to move Torquay United forward both on and off the pitch.