Gateshead Chairman Puts Club Up For Sale
Fri 8th May 2015 | Clubs Ownership
Gateshead Chairman Graham Wood has announced his intention sell the club.
Wood, who became chairman of the Vanarama Conference Premier side in 2006, made public his intention to find a buyer in a statement released by the club today (8 May).
Speaking of his decision, Wood commented: "This has undoubtedly been one of the toughest decisions I have ever taken. However, having reached the age of 71, I feel it is an appropriate time to hand over ownership to a suitable individual or individuals who share my aspirations for the club.
“When I became Chairman in 2006, I set a target of creating a self-sustaining business by the time I was 70 through the creation of a new stadium designed to provide additional income streams and/or by regaining membership of the Football League.
“The new stadium project is ongoing and we came agonisingly close to regaining League status in last year’s Play-Off Final at Wembley. However, it wasn’t to be, and despite having invested considerable time and money during the past nine years, I would be more than delighted if someone else came in and took the club past that final hurdle. I am a fan, first and foremost.
“We have come a long way during those nine years. Attendances continue to grow substantially and we are attracting some of the region’s best blue chip companies and organisations as sponsors, partners and corporate guests.
“A new owner will not only inherit a debt-free club but also a base-line of funding which is secure for next season and with potential to increase further.
“So, the foundation has been well and truly set for a new owner to build upon and continue my dream of regaining Football League status for the town following an absence of fifty-five years.
“I advised my fellow directors of my intention to retire several months ago, since when Vice-Chairman, Brian Waites, and I have been seeking new owners and/or investors both at home and abroad. We have recently been holding discussions with a potential investor and planned to make an announcement at the end of the season. However, talks are still ongoing.
“I will continue in the role of Chairman until the end of June at the latest during which time I will be working extensively alongside Brian with the target of securing a new owner by the end of May. Brian will field any expressions of interest on my behalf during this period.”
Brian can be contacted via email@example.com or on 0191 478 3883
Posted by: Aaron Gourley
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