Accounts for a Swindon business has shed a light on why a football club in the South West was placed into administration.

Torquay United owner Clarke Osborn shocked many earlier this year when he announced he was placing the club into administration.

The announcement in February cited 'circumstances beyond his control' forcing him into the position where he was 'unable to continue financial support for the club and had that day filed an intention to appoint an administrator'.

While the announcement from Osborn didn't go into detail about what these circumstances were, he did add "The prospect of creating a new stadium and commercial facility was the driver for the investment, the excitement to deliver something truly transformative for the Club and Torbay."

Read More: Could Torquay United crisis affect Swindon speedway future?

Now, accounts recently posted for one of Osborn's many other businesses, Swindon-based Gaming International (GI), which currently operates greyhound racing and the town's Abbey Stadium, and is looking at a new venue for the Swindon Robins speedway team, have shed some light on the matter. 

In the 'Related Party Disclosures' section of the latest accounts posted on April 16, it said: "Riviera Stadium Limited is incorporated in England and Wales and is controlled by Mr C A Osborn who is director.

"The company was engaged in property development and also held a controlling interest in the Torquay United Football Club Limited.

"Property funding partners of the company withdrew financial support during March 2024, and the result of this was that the [football club] was appointed an administrator on April 5."

When he took over Torquay in 2016-17, it was made clear by Osborn that one of his aims was to move Torquay United from its home in Plainmoor to a new stadium he was going to build elsewhere.

But plans for a new venue in Nightingale Park were abandoned after talks with Torbay Council broke down but Osborn was still indicating this was the plan in December last year.

In a Q&A late last year, Osborn was asked what would happen if there isn't a new stadium, and he replied "I don't think I need to answer that because there is going to be one."

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Gaming International, which has had to write off £846,000 for property development purposes, is currently involved in another row over a stadium in Swindon

Swindon Borough Council is currently investigating if Gaming international and its property partner Taylor Wimpey have breached planning requirements by building homes in Blunsdon without finishing the agreed new Abbey Stadium. 

Speedway fans are also on tenterhooks for an announcement over the new home of the Swindon Robins after the team was told it could not continue at Abbey Stadium.