Owners stay – but Heed to cut costs

GATESHEAD have confirmed that owners Richard and Julie Bennett will continue to fund the club – at a reduced level.

That will see the Heed no longer operate as a fully professional club, one of a handful in the Vanarama National League.

What hasn’t been rubberstamped is whether former Newcastle, Aston Villa and Everton defender Steve Watson will continue as manager.

The 44-year-old has been linked to the vacant manager’s job at his former club Macclesfield Town.

Watson’s future should be confirmed at a Press Conference Gateshead are holding at the International Stadium today.

The Bennetts had hoped to offload the club after investing heavily during their three years so far at the club.

But attempts to sell Gateshead for the nominal fee of £1 have proved difficult with an overseas consortium pulling out late last week.

That has left the Bennetts to continue as owners, while slashing the budget, and the Heed will have to cut their cloth accordingly.

Chairman Richard Bennett said: “I met the potential buyers following the meeting with the National League last week. It quickly became clear that they had been withholding important information from us during the due diligence process.

“It’s very disappointing for everyone involved.

“First and foremost in our minds is the long-term future of the club and Julie and I have decided to continue our ownership of Gateshead.”