The takeover of National League side Gateshead is close to collapsing due to third-party involvement, according to prospective owners Flacks Group. Flacks Group discovered Shoreline Limited's involvement and claims Shoreline has refused to respond to inquiries regarding its alleged connection to the club. In an open letter, Flacks Group stated they needed written confirmation from Shoreline that it would give up any ownership claim over Gateshead FC.
They argued this was uncontroversial, as Shoreline's own court proceedings seek to confirm the cancellation of their purchase agreement. Unfortunately, despite Shoreline's legal case asserting they do not wish to own the club, they refused to provide the written confirmation. This situation is compounded by Shoreline's attempt to acquire another EFL club.
Regulations forbid any owner from controlling more than one English football club. Flacks Group concluded it is currently unable to proceed with the takeover and expects to reluctantly withdraw from the purchase. The group noted it is engaging with the Independent Football Regulator in hope of achieving a successful outcome for the club.
Gateshead have had a difficult season, picking up just four points from 14 games and losing their last eight league matches. They are 11 points adrift of safety and remain without a manager after sacking Lee Cattermole. Staff and players also had wages paid late in September.
Source: BBC Sport Football · Summarized by HeadlinesBriefing