TORQUAY United, one of the biggest clubs in the National League South, will be put into administration by owner Clarke Osborne.
Also quitting as chairman, Osborne revealed he would assist a change in ownership “where and when invited.”
Severe discontent has surrounded the Gulls in recent weeks as fan unrest over the club’s ownership and poor form on the pitch has gathered fever pitch.
Manager Gary Johnson has come under increasing pressure to resign, with Torquay only possessing one win from their past 11 league games.
READ MORE: Torquay United 3-1 Weymouth - report
However, putting the Gulls into administration is a huge step and could attract a points deduction should National League officials decide on such punishment.
Torquay are due to visit Weymouth next Saturday (3pm), having beaten the Terras 3-1 at Plainmoor in early December.
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