Crisis club Heed need a saviour!

Crisis club Gateshead say they have made ‘significant progress’ on bringing in a new potential investor following a traumatic week that saw a key shareholder stand down, wages go unpaid and a transfer embargo imposed.

By Mark Carruthers

Fans have been left fearing for the existence of the National League’s bottom club after long-term future after director and major investor Mark Nellist announced on Wednesday he had stepped down from the board, insisting the club were “no longer heading in the direction that he would have liked or hoped for”.

Local businessman Nellist formed part of a supporter-led consortium that hauled his hometown club back from the brink of closure in 2019 – and has remained committed to the Heed throughout one of the most successful periods in their history.

With Nellist’s financial backing, the Heed bounced back from being relegated into the National League North when they were crowned as champions in 2022 before winning the FA Trophy at Wembley two years later.

But after seeing successful boss Mike Williamson lured by EFL side MK Dons – and then his successor Rob Elliot snapped up by Carlisle in the summer after a leading a great escape last season in his second stint as boss – Nellist has now opted to step down with current boss Lee Cattermole increasingly under fire from fed-up fans.

Speaking just hours before the 1-0 home defeat by Altrincham – a game watched by a crowd of just 407 – Nellist said: “Having dedicated a significant amount of time, commitment and personal financial support to the club over the years, this is not a decision I have taken lightly.

Progress

“Unfortunately, I no longer feel that the club is heading in the direction that I would have liked or hoped for, and I therefore feel that the time is right for me to step away from my position as a director.”

Things got worse for the Heed on Thursday morning when it was revealed that players and staff had not been paid their wages for September. The NLP understands that, as of Friday night, that situation had remained unchanged.

As a result, the club have now been placed under a transfer embargo by the National League for “Non-compliance of League Financial Regulations”, preventing them from signing a new player or changing the terms of an existing loan.

Gateshead say talks are ongoing to bring in new investment after Nellist’s shares were made available for “a nominal sum”.

Indeed, a Companies House update on Friday indicates Hartlepool-born businessman Stephen Paylor, who already holds shares with the club, has reached an agreement to purchase Nellist’s shares and become the largest shareholder at the club.

Gateshead remain tight-lipped on Paylor’s involvement but have said: “Significant progress has been made in the past 24 hours and we are hopeful of making an announcement in the next day or so.”