League or bust? Hong Kong-owned Gateshead FC thriving on the pitch despite turmoil off it
- Club is a point behind ‘Class of ’92’-owned Salford City in the National League, with both teams in the play-offs for promotion to League Two
- Supporters groups release a statement ahead of planned meeting on Thursday as confusion reigns over club’s future
A Hong Kong-owned English football club has become a cause for concern for fan groups despite taking a step closer to the English Football League.
Gateshead FC sit in the play-off spots of the National League, just one point behind Salford City, the club owned by Manchester United’s “Class of ’92” – Ryan Giggs, Paul Scholes, Nicky Butt, Phil and Gary Neville, and most recently David Beckham – along with Malaysian businessman Peter Lim.
Ahead of them in the table are former league clubs Wrexham and Leyton Orient and the multimillionaire-backed AFC Fylde, another team with English Football League ambitions.
Gateshead, who were taken over by Hong Kong-based businessman Ranjan Varghese last summer, are restricted by a transfer embargo for breaching their budget, which is preventing them from bringing in new players, and are subject to a £200,000 bond from the National League too.
Varghese issued a statement via the club’s website last Friday, the same day he met with the National League to get the transfer embargo lifted but where no progress was made on that or getting the bond back.
“As I mentioned straight after the acquisition of the club in July, we need to run a tight ship and run the club in a sustainable and financially healthy manner.