Former EFL club slapped with 10 point deduction and hit whole new low as iconic team face dropping into seventh tier 

TORQUAY UNITED have been hit with a ten-point deduction as they near administration.

The National League South side have fallen from 12th to 17th in the table due to the penalty.

They are now just three points above the relegation zone and are in danger of falling into the seventh tier.

Torquay are in the midst of huge financial trouble and announced plans to go into administration.

National League rules state that intending to appoint administrators is an insolvency event and punishable by ten points.

Owner of the club Clarke Osborne revealed last month that he could no longer fund the Devon-based side.

He said in a statement: “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 am unable to continue financially supporting the club.

“I have today filed on behalf of the directors an intention to appoint an administrator for the club and company.”

Osborne has been in charge since 2016 and overseen two relegations.

He had initially saved Torquay after past financial issues – but they have now racked up debts worth a reported £4.2million.

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There are parties reportedly interested in buying the club.

The Gulls, who play at 6,500 capacity stadium Plainmoor, were in the EFL as recently as 2014.

They were as high as League One ten years earlier.

Former Soccer AM presenter Helen Chamberlain is Torquay’s most well-known supporter and she took every opportunity on the Sky Sports classic show to mention her beloved team.

She even has the club’s crest tattooed on her bum.