Now will the fans, both old and new, join the new era at Truro?

[Dave Deacon]

The full statement from Truro City's Administrators and further down from the new owners following this evening's Truro City takeover deal. (via Jack Murley's Twitter page)

Kate Breese of Walsh Taylor and administrator of Truro City Football Club Limited makes the following statement on the completion of the sale of the business and assets of the club to Truro City Football Club 2012 Limited, a company owned by Peter Masters and Philip Perryman:

"I am delighted to announce that after over three months since Truro City FC entered administration, a sale has now completed which transfers the club's business to a company owned by Peter Masters and Philip Perryman. I would like to thank everyone associated with the club for their patience and support whilst a deal has been agreed to safeguard the club's future. There have been a number of particularly complex issues surrounding the sale of the club, including issues over the ground at Treyew Road and due diligence relating to the club, but we have now resolved these matters so that a sale could complete. There has been a huge effort involved to save Truro City FC and to that extent I thank all the professionals involved in not only running the club, but pulling together a sale, with particular efforts from my colleague Gareth Howarth of Walsh Taylor, my lawyer James Moore of Walker Morris, and Dale Band and Rebecca Rollinson of Nalders who acted for the purchaser.

I would like to show my appreciation to the players and staff who without their support we would not have been able to trade whilst in administration. Upon taking the appointment as administrator, I had to have an initial meeting with the players and staff to explain the position and ask for their support through wage deferrals and they have been fantastic in that respect. The goodwill they have shown towards the club has been crucial to the completion of this sale and I'd like to give a big thank you to them for that support. The players and staff have had a lot of uncertainty over recent history and I hope that the support that they have shown for the club will now pay off for them now that the club has been sold. I would like to pay particular note to the efforts of Lee Hodges as manager who has been another crucial member of staff in keeping the players together over a very difficult period and Tracey Finemore who has given a fantastic effort as Club Secretary to assist with day-to-day running of the club whilst in administration.

Although a sale has now completed, the company voluntary arrangement (CVA) that is required to be passed in order to ensure that the club can exit administration in accordance with The Football Conference Rules has not yet been issued. This is expected to be issued in the near future following which it is hoped that the club will be able to formally exit administration in accordance with the requirements of The Football Conference. If that happens and the CVA is accepted by the requisite majority of creditors, then if the team are able to secure safety from relegation on the field, the club should then be able to retain its status as a Football Conference Club and begin a new life under new leadership. I add that during my time as administrator of Truro City FC, it has become clear that in order for the club to survive at this level it needs the support of the fans to turn out in numbers at homes games and I would hope that fan support can secure the long term future of Truro City FC. But with this in mind, I would like to show my upmost appreciation to all of the volunteer support which has been another vital part of the club's survival, particularly during the early days of the administration whether with the work in the bar, stewarding, catering, preparation of the pitch or general matchday assistance. The background support is a great credit to the club.

Great strides have been made by the club over the past few months. The club was in a dire position upon my appointment as administrator on 4 September 2012 with minimal streams of revenue and an over bearing wage bill. The club is now operating on a much more even keel.

My involvement with the club will continue for a period of time which will depend upon the terms of the CVA when it is issued but this will be in a background role. My involvement in running the club on a day to day basis has now ended upon the completion of the sale agreement. My final thank you goes to the fans and people of Truro who have shown a great deal of support during my time as administrator. The city should be proud of its warm culture and I am very grateful for all of the support to date. The nature of a football administration requires the input of a number of different parties which takes time but at all times it has been my primary objective to save Truro City FC and pass it onto a suitable buyer which this sale does and it is with that end objective and achievement in mind that I am very pleased for the club and city as a whole in making this announcement.

Best wishes to everyone involved with Truro City FC and I hope that this new start for the club is a successful and rewarding one.

-------------------------------------------------

Peter Masters joint shareholder of Truro City Football Club 2012 Limited, the buyer of Truro City FC commented:

On Friday 19th October 2012 "Myself and Philip lodged a 50k performance bond with the football conference without due diligence saving the Club from certain liquidation. We are pleased that we have now completed the purchase of Truro City FC. It has been a long past few weeks but all of the efforts put in by everyone involved has been tireless and has culminated in the completion of the purchase of the club.

We can all now look forward as opposed to looking back trying to rectify the issues that the club has accumulated in the past. This is our new start and we are excited for the club because the financial troubles that the club has had in the past can now be forgotten. There is still a lot of hard work to be done in terms of concluding a CVA so that the regulatory requirements can be completed so as to comply with Football Conference Rules and we still need the support of the creditors in this respect but the club is now under our control so that we can work towards a more certain future.

The players have been terrific from the start of our involvement and we fully expect that relationship to continue now that we own the club. They have had to make some big sacrifices for the club which were done in an effort to save the club which has been successful and for that we are very grateful.

We would like to say a very big thank you to Dale Band and his team at Nalders Solicitors, Ian Fraser and his team at Bishop Fleming Accountants who can both take a great deal of credit for why Truro City Football Club is alive and kicking today. We would also like to thank the administrator, Kate Breese of Walsh Taylor who has done a great job conducting the administration.

We now have a fantastic opportunity of a home game just after completion to get a buzz back and three much needed points at Treyew Road so we hope that as many fans both old and new can join us for this new era for the club.

[Nemesis]

... and the ground / car park ? Has Heaney, the Million pound Woman and anyone else with grubby fingers really gone away with very little to show for the years of deceit ?

Good luck to the NewCo, do things the right way, run City as a local football club for the community and not as part of the 'Entertainment Business'

[cornishman64]

now lets hope truro can kick on and get points on the board do they have 2 wait for the cva to go through before they can bring in new players?

[Dave Deacon]

That's the part I don't understand, the debt and CVA arrangement still to be agreed upon! And until that's sorted, presumably transfer embargo no closer to being lifted. :wacko:

[Argyle Fan]

That's the part I don't understand, the debt and CVA arrangement still to be agreed upon! And until that's sorted, presumably transfer embargo no closer to being lifted.

As I read it the football club "business" has been sold to the new company Truro City Football Club 2012 Limited so it's basically the same situation but with a different owner.

Until the CVA is agreed I would guess that the transfer embargo will indeed continue.

So a step forward but not out of the woods yet.

[Rayvon]

Thanks for those kind words nemisis now time to get back in your grotto.

Merry christmas & a happy new year to all at Newquay Football Club.

[Jamo]

Pardon me for asking, but I remember not to long ago, the owners of L2, who also owned corn exchange in Camborne were in a lot of debt hence corn exchange shutting down, is this the same person or a new owner of L2 now that is helping Truro? Please don't jump down my throat, just asking the question as it may be different people involved now!

[Dave Deacon]

Pardon me for asking, but I remember not to long ago, the owners of L2, who also owned corn exchange in Camborne were in a lot of debt hence corn exchange shutting down, is this the same person or a new owner of L2 now that is helping Truro? Please don't jump down my throat, just asking the question as it may be different people involved now!

Totally different people

[Jamo]

Thank u Dave, I know at the time it was a big story, but wasn't sure if it was new owners, thx for clearing that up, hopefully better times ahead for the Truro fans