Gateshead expect their players and staff to receive their overdue September wages on Tuesday, according to the club’s interim chairman Graham Wood.
Wages have gone unpaid during a difficult period for the Tyneside club, which is waiting on new investment. An agreement in principle has been reached with the American investment company Flacks Group for it to take over the running of the club, and Wood has issued a statement setting out the events of the past couple of weeks and the reasons certain things have happened.
The interim chairman said a deal was struck on Thursday under which the incoming owners would provide an immediate loan so that the overdue wages could be paid, after which due diligence would be carried out and an exclusivity agreement signed. Both of those steps were completed and funding was released on Friday, but because the new owners are based in the United States, Wood said international banking procedures meant the money could not be transferred immediately and was instead expected to arrive by Tuesday at the latest.
On the pitch, Gateshead remain bottom of the National League and are without a manager following a 4-1 defeat at Halifax Town, their 11th loss in 13 league games this season. Lee Cattermole was sacked earlier this month after just four months in charge, having recorded one win and 11 defeats across his 14 matches.