Torquay United are to go into administration after owner Clarke Osborne says he can no longer fund the National League South club.
The Gulls, who are 11th in National League South, have been owned by Osborne since 2016 after he bought the club from a fan-led consortium.
In his time Torquay have twice been relegated to the sixth tier.
They missed out on promotion to League Two in 2021 after losing to Hartlepool United in the play-off final.
Osborne has also stood down as club chairman.
“It is with sincere regret that I advise that circumstances beyond my control during the last five weeks have brought me to the position that I an unable to continue financial support for the club and I have today filed on behalf of the directors an intention to appoint an administrator for the club and company,” Osborne said in a statement on the club website.
More to follow.