International investment group take majority stake in South Shields

Chairman Geoff Thompson believes South Shields are entering ‘an exciting new phase’ after a deal with an international investment group was officially finalised on Friday.

The Mariners supremo has been in discussions with a consortium led by capital markets lawyer Jason Ye for a number of months and confirmed an announcement was imminent earlier this week as the finer details of the agreement were thrashed out.

Friday brought official confirmation Ye’s ORY Investment group have taken a majority stake in the National League North club – although Thompson will remain in place as chairman as a new look ownership group is formed.

The South Tyneside-based businessman praised the group for their commitment to the club and is looking forward to witnessing further progress on and off the pitch over the coming seasons.

Thompson said: “I’m delighted we have reached an agreement with Jason and the whole investment group. The entire group has been a pleasure to work with on this transaction and has been extremely thorough in their approach. 

“They’ve invested significant time to understand the club, our history, culture and the huge potential we have. I’m very excited and thrilled to be working with them moving forward and genuinely believe this heralds an incredibly exciting new phase in the club’s growth and development.”

Support

The group have thrown their support behind Mariners manager Ian Watson and his backroom staff after they guided them to within 90 minutes of promotion into the National League during his first season in charge before his side suffered a play-off final defeat against Kidderminster Harriers.

New signings are now a priority for the summer and Watson has confirmed he is in talks with ‘three or four’ potential additions to his squad and is hopeful they can get ‘over the line’ over the next fortnight.

Speaking earlier this week, he said: “We have had meetings all week with players and obviously we have a squad of players there that is really strong. We are just looking to add top players to the group and we are speaking to three or four of them and we will be looking to hopefully get something over the line in the next couple of weeks.

“We aren’t looking for loads because we have a strong team there. I think we need that depth because I feel that’s where we maybe fell a little short last year and we have to get players in the squad that can improve the game or change the game whether they start or come off the bench. We want competition in every single position and that’s where I want it to be. We aren’t just looking for numbers, our recruitment is being done with a fine-toothed comb and we are looking for the very best we can.”

Heritage

The club’s local and international academies, women’s team and the South Shields FC Foundation will also receive support under the new look hierarchy and Ye has stressed a lot of hard work lies ahead as his group look to make an impact on and off the pitch at Mariners Park.

He said: “It is a privilege to join an organisation that embodies such a rich heritage, strong community spirit, and a location at the heart of one of the world’s most prolific regions for football talent. We know there’s plenty of hard work ahead, but we’re fully committed to building on the fantastic foundation Geoff and the team have already created.

“We truly believe SSFC can grow into a strong force both on and off the pitch. We would like to extend our sincere gratitude to Geoff for welcoming our group into the SSFC family, and we’re looking forward to meeting the fans and sharing this journey together.”