Gateshead takeover awaits IFR green light as issues at crisis club resolved

National League crisis club Gateshead have been hauled back from the brink of going out of existence after a US-based investment firm resolved a number of issues over an imminent takeover deal.

Just over a month has passed since the Flacks Group confirmed they had agreed a deal with the club’s existing shareholders and they have been working to finalise their agreement to gain control at the International Stadium.

Fears over the Heed’s long-term future had increased over that time after they were placed under a National League transfer embargo over unpaid wages and were threatened with a winding-up order by HMRC for overdue PAYE and VAT payments.

There was further disruption to the Flacks Group’s attempts to conclude their takeover after Gateshead shareholders were involved in a dispute with Shoreline Limited, who failed to bring a successful end to their own bid to buy the North East club last year.

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‘Everyone at Gateshead needs to come together as one’

However, after days of talks between several parties, only the approval of the Independent Football Regulator is now standing in the way of Flacks Group being able to officially herald the start of a new era at Gateshead.

In a statement released the North East outlet Chronicle Live on Thursday, Flacks Group spokesman Phil Forster said: “We are pleased to confirm that we have now completed our due diligence in relation to Gateshead Football Club and the issues we have raised have been addressed to our satisfaction.

“We would like to thank all previous shareholders for their support throughout this period where it became evident just how much they all want to see the club succeed.

“The takeover is still subject to IFR approval and we will continue to work closely with the regulator to ensure a swift and successful outcome that will lead to full ownership of the club.

“Now more than ever, everyone at Gateshead Football Club needs to come together as one.

“Whilst we go through the final stage of this process, we ask fans to continue with their amazing support and continue to get fully behind all players and staff.”

Supporters Society release statement

The Gateshead FC Supporters Society, formerly known as Gateshead Soul, played a leading role in rescuing the club during the summer of 2019 and they have remained as a shareholder at the International Stadium throughout a period of contrasting fortunes over the last seven years.

In a statement released later on Thursday, a spokesperson stressed the society are looking forward to working with the new owners of the National League club and thanked the former shareholders for their ‘support, commitment, and cooperation throughout the takeover process’.

The statement read: “The Gateshead FC Supporters Society is delighted to welcome the completion of the club’s takeover by the Flacks Group.

“This transition represents a significant milestone for the club and provides a strong platform from which to build for the future, both on and off the pitch. 

“We welcome the Flacks Group to Gateshead FC and look forward to working together to drive the club forward, strengthen our connection with supporters and the wider community, and achieve long-term success.

“On behalf of everyone at Gateshead FC Supporters Society, we would like to place on record our sincere thanks to the club’s shareholders for their support, commitment, and cooperation throughout this process.”

Collaborative spirit

The society added: “Their dedication to ensuring a positive future for the club has been invaluable.

“We would also like to thank all parties involved in making this transaction possible.

“The professionalism, hard work, and collaborative spirit shown by everyone throughout the negotiations have helped bring this deal to a successful conclusion.

“Most importantly, we would like to thank our members, supporters, volunteers, staff, and players for their continued loyalty and belief in Gateshead FC.

“Your unwavering support is at the heart of everything we do, and we look forward to embarking on this exciting new era together.

“The future is bright for Gateshead FC, and we are excited by the opportunities that lie ahead under the ownership of the Flacks Group.”

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