Flacks Group has warned that its proposed takeover of National League club Gateshead is in serious jeopardy unless Shoreline Sports Limited confirms in writing that it has abandoned any ownership claim over the club. The US-based group said it would reluctantly withdraw from the purchase if the uncertainty continues.
Club fighting relegation amid takeover turmoil
Gateshead sit at the bottom of the National League after winning just one of their first 14 games of the season. They are 11 points from safety and suffered a shock FA Cup fourth qualifying round defeat to Stafford Rangers earlier this month. Ben Clark is in caretaker charge following the departure of Lee Cattermole.
Flacks Group, reported to have assets worth over $7bn, reached an agreement in principle with the Heed's owners earlier this month. Group spokesman Phil Forster said at the time: "We are delighted to welcome Gateshead Football Club as the latest acquisition at Flacks Group. Gateshead FC has a tremendous history and we look forward to moving the club forward and to see it realise its true potential."
Shoreline dispute blocks finalisation
The deal has not been ratified by the Independent Football Regulator. In a lengthy statement on Thursday, Flacks Group said a previous takeover bid by Shoreline Sports Limited, which included former Everton and Sunderland striker Victor Anichebe, was hampering their attempts. Shoreline's agreement fell through in the final week of the 2024/25 season, and Flacks Group claims Shoreline is seeking an order that the Heed shareholders 'pay certain financial sums'.
Flacks Group said they asked Shoreline to confirm in writing that it would give up any ownership claim over Gateshead, but the request was declined. "We made no request that Shoreline drop their financial claims against the shareholders themselves. However, we needed their written confirmation as to ownership because, without it, we could not be confident that our takeover of the club would be free from dispute," the statement said.
Players urge resolution
Gateshead's players released a statement via the club on Friday afternoon, saying: "We are disappointed to hear that there are issues with Flacks Group finalising their deal. We would hope that a resolution that enables them to takeover the club is found. Having met with Flacks Group representatives we are very optimistic about the future of Gateshead FC under their leadership."
Shoreline has not publicly commented on the situation. Chronicle Live believes they are keen to resolve the matter to progress their takeover of League One club Bromley, believed to be worth around £20m.
An Independent Football Regulator spokesperson said: "We understand this is an uncertain time for the fans, staff and players of Gateshead FC. We remain in close contact with the club and all parties."
Flacks Group claim they are ready to inject funding to 'pay off the club's outstanding creditors and the next set of player and staff wages', but it seems unlikely October wages will be paid on time. The group concluded: "We are currently not able to proceed with our takeover of the club whilst this uncertainty hangs over it - that would not be fair to the club or to you, its supporters. For that reason, unless common-sense prevails, we expect that we will reluctantly have to withdraw from the purchase as we cannot acquire the club and take it forward. This is NOT something we wish to do."
