Transfer embargo continues for club
CONCERNS MOUNT OVER GATESHEAD FC VIABILITY
GATESHEAD FC continue to be under a transfer embargo after a meeting with the National League on Tyneside.
There was also no progress made on getting any of the £200,000 bond placed with the league back.
Concerns have been mounting about Gateshead’s future viability as costs have been cut to the bone.
Scottish defender Fraser Kerr was this week sold to National League rivals Hartlepool for a reputed £4,000.
Captain Scott Barrow, another highearner, is believed to have been touted around other clubs to further reduce the wage bill.
The club did not provide sufficient information required at Friday’s meeting for any of the bond to have been released.
The embargo has dragged on for many months and remains in place until the relevant information is forthcoming. Gateshead will now look to provide such details, which will revolve around their current financial status.
The League will then look at the figures and decide at next Thursday’s League meeting on a way forward.
The club are keen to get at least part of the bond back to reduce what at present is an unknown level of debt.
Chief executive Michael Tattersall headed a three-man National League delegation at the International Stadium.
Gateshead’s owner Ranjan Varghese and financial advisor Joseph Cala were both present at the discussions. While the status quo with the League continues, Varghese has attempted to allay fans’ growing fears.
He said: “I understand and see that there is some unhappiness regarding the non-footballing side of the club.
“It is unfortunate for fans to be in this situation, but we have the best interests at heart as we continue to make the club sustainable for years to come.
“We had a productive meeting with the National League.
“We will be working closely with them in order to give them confidence in the financial stability in the club.
“We will be supplying a revised budget as soon as possible which will be reviewed by the League.
“Then a decision regarding the bond and transfer embargo will be made by the National League.”
Gateshead are at Aldershot this afternoon – a 305-mile trip by coach that is being made on the day of the game.