Gateshead Football Club have sacked manager Lee Cattermole following a poor run of results in the National League. Assistant manager Martin Smith has also left the club.
Cattermole, who signed a two-year deal with Gateshead in June, oversaw just one win and 11 defeats in his first 14 games in charge. The decision came after Saturday's 2-1 home defeat by Worthing, which marked a seventh straight loss in all competitions.
Gateshead currently sit bottom of the National League with four points from their opening 12 games this season.
Ownership and Financial Changes
The club has also announced that majority shareholder Mark Nellist is to gift his shares to American-based director Stephen Paylor, subject to approval from the Independent Football Regulator.
Nellist resigned from the board of directors last week and withdrew his funding support from the club.
According to a club statement, Paylor has indicated he is unable to provide funding on his own and was relying on joint investment from a third party whose initial strong interest appears to have waned. The statement noted that it would appear unlikely the share transfer from Nellist to Paylor will gain IFR approval.
Wage Arrears and Appeal for Investment
Players and staff have yet to receive their wages for September. The club has appealed to its remaining shareholders for time to find fresh investment.
