Gateshead saved by late supporter-led takeover bid

National League Gateshead have avoided being closed down as a club after a late takeover bid rescued the Heed.

A supporter-led takeover has saved the club from extinction after a four-and-a-half-hour-long meeting between Alisha Henry and the club’s financial advisor Joseph Cala ended with Italian businessman accepting a £25,000 offer after consultation with owner Dr Ranjan Varghese.

With Varghese set to meet the FA at Wembley on Wednesday, funds were transferred into the bank of the Hong Kong-based businessman with the deal eventually confirmed at lunchtime.

The late transfer in ownership signals an end to Varghese’s tyrannical ten-month spell of ownership as off-field matters marred an impressive season on the pitch.

Gateshead were placed under a transfer embargo by the National League early in the season as then-manager Steve Watson struggled to deal with the issues. Watson’s departure allowed Ben Clark to take the reins but the Heed legend also suffered a number of difficulties.

The popular Heed player admitted that top-scorer Scott Boden and defender Fraser Kerr were sold against his will; meanwhile, captain Scott Barrow was offered to a number of National League clubs.

Gateshead were evicted from their International Stadium home in March when Gateshead Council took action over an unpaid rent bill.

The new Gateshead board will be confirmed in the coming days; however, their first priority will be to discuss how to improve the Heed’s financial situation with the FA and the National League.