Thea Bristow has transferred 80% of her Plainmoor Limited shareholding, which controls Vanarama Conference club Torquay United, over to a group of existing Torquay Directors for a pound.
Thea said: “It is a bitter sweet day for me. I have transferred the majority of my shares and it has closed the chapter of my ownership of the club. I certainly have had mixed emotions throughout this whole process, but know that it is the right decision for me and my family.
“I look back and hopefully Paul and I made a bit of a difference. There have been some great times and some not so great times, but overall, whatever decisions we made, they were always in the best interests of the club.
“One thing I do know is that whenever I come to the ground, I am always so proud of seeing Bristow’s Bench and the lasting legacy to both Paul and the club.
“I, like any fan, can’t wait to see us back in the Football League and look forward to cheering the team onto that.
“I wish the Directors luck in taking on this challenge. For me, knowing I had to move on, this route has given me the chance to pass my shares onto people who know and care for the club, especially in time for any Conference deadlines.
“The Directors have assured me that they will continue speaking to the TUST and other consortiums for further investment or help, plus that they have the capability to run the club next season. I am sure they will announce their plans more formally over the coming weeks.
“I look forward to watching and supporting as a fan and thank you for all the support and kind wishes during my time as chairman.”