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| Luke Graham Leading Out Hereford United At Gateshead In September 2013 |
Owner Hong-Kong based businessman Ranjan Varghese has confirmed he will run the club until May 31st assuming a £200,000 bond is returned to the club by the National League. The bond was placed with the League pre-season.
Last week a winding up order against the club was dismissed by HMRC.
However the club owes over £20K to HMRC.
As well as debts the club only has 15 senior players and a transfer embargo.
Varghese bought the club last summer and brought in Joseph Cala as his financial adviser. However supporters soon became wary of Cala as details of his past became known. He had been 'involved' with clubs such as Portsmouth and Morecambe.
"Last year this club spent £1.8 million to generate 54 points," said Cala.
"Today we’ve spent half a million to maybe finish with 76-78 points."
He added that he was convinced Gateshead could compete at National League level with a small budget and homegrown players.
However with today's news that the club is up for sale it looks as though Varghese and Cala have run out of money and, perhaps, ideas.
"Last year this club spent £1.8 million to generate 54 points," said Cala.
"Today we’ve spent half a million to maybe finish with 76-78 points."
He added that he was convinced Gateshead could compete at National League level with a small budget and homegrown players.
However with today's news that the club is up for sale it looks as though Varghese and Cala have run out of money and, perhaps, ideas.