Gateshead FC put up for sale for £1

Gateshead FC owner and chairman Dr Ranjan Varghese has publicly announced that he has put the club up for sale.

The club has been under a transfer embargo for much of the season and has a £200,000 bond lodged with the league.

The Vanarama National League side face Barnet at home on Saturday with many fans planning protests after the fixture. Gateshead’s loyal fanbase have criticised the lack of communication from the owner as the Heed fall into financial turmoil.

Gateshead currently sit seventh, one point ahead of Eastleigh and two in front of Sutton United. With only ten matches to go and the Tynesiders occupying the final play-off place, Varghese has decided to put the club on the market.

The club already have a very limited squad as the club had to cut costs limiting them to only 16 players.

The club released a statement saying:

“Following talks with Gateshead supporters’ association, it has been agreed that the club is now up for sale for £1.

“The club will work with representatives from the supporters association to find a new buyer.

“Varghese has been owner of Gateshead Football Club since July 2018.

“He is still committed to run the club until 31st May once the £200,000 bond is returned by the National League.”