Torquay United: Takeover talks between owner and potential buyer

Torquay United's Plainmoor
The 'Bristows Bench' stand at Plainmoor, which was funded by Thea Bristow

Former Torquay United chairwoman Thea Bristow has entered into formal talks to sell her stake in the club.

The lottery-winning millionaire and has been actively searching for a buyer for the club since the start of the year.

The club has not revealed who has made the bid for Bristow's stake.

"There has been a lot of hard work to get to this point, and I hope that we will be able to conclude this deal," Bristow said in a statement.

"It is a big decision to announce at this point, but we all know the way that football works and it is very difficult to keep anything under wraps once a few people know, so I felt it was important to inform you all of this milestone myself.

Torquay's turbulent 12 months
April 2014: after finishing bottom of League Two
September 2014: Go second in the Conference after a 10-game unbeaten run which included six successive wins
October 2014: Fail to make the FA Cup first round for the first time in club history after a 2-0 loss at Aldershot in the fourth qualifying round
December 2014: Begin a run of one win in 12 league games
January 2015: Bring in former Oxford chairman Kelvin Thomas to try and find a buyer for the club
March 2014: Reserve goalkeeper Jordan Seabright
March 2014: Millionaire chairwoman Thea Bristow

"It is safe to say that this does not mean we are over the line yet, but it is a major step in the right direction," she added.

Bristow and her husband Paul won a £15m jackpot on the National Lottery in 2004 and he was part of a consortium that took over at Torquay in 2007.

She assumed his role on the board and

She brought in former to help try and find a buyer for the club in January.

Bristow has been in discussions with various parties including the Torquay United Supporters' Trust and there is now an exclusivity period between Bristow and the potential new buyers.

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