New era for South Shields as international investment deal finalised
Major announcement from National League North club South Shields as investment deal is formally completed.
South Shields chairman Geoff Thompson has heralded the start of an ‘exciting new phase’ for the club after an investment deal with an international consortium was formally completed on Friday.
The Mariners supremo has held wide-ranging discussions with the consortium in recent months and he revealed an announcement over the deal was imminent during an exclusive interview with The Gazette earlier this week. The finer details of the agreement have now been signed off and the deal has already been given the green light by the National League and the Football Association. As a result, a new ownership structure is now in place at the 1st Cloud Arena.
Thompson will remain as chairman, a role he’s held since 2015, after his lengthy search to bring in long-term partners came to a successful end.
A statement released on Friday revealed the South Tyneside-born businessman will now oversee a comprehensive strategic review of the club’s operations alongside the investor consortium, which is anchored by ORY Investment, to assess matters on and off the pitch.
The Mariners confirmed the review will aim to ‘enhance on-field performance, elevate the supporter experience, and strengthen financial sustainability’ and revealed the new look ownership group will prioritise strengthening Ian Watson’s playing squad as he prepares for his second season in charge.
The former Gateshead and Carlisle United assistant manager has already revealed discussions with four potential additions to his squad are already underway and remains hopeful agreements can be found over the next fortnight. There was also clarity given over Watson’s future after it was confirmed he will remain in charge and will continue to be supported by assistant manager Carl Magnay, director of performance and culture Mike Williamson, general manager Francesca Callebaut and technical director Chris Bell.
Future
The Gazette understands Watson’s impact during his first season as a manager with South Shields had led to tentative interest from National League and EFL clubs - but the new look ownership group have already offered their ‘full support’ to the Mariners management team as they piece together their plans for the new season and look to move on from their National League North play-off final defeat against Kidderminster Harriers.
Chairman Thompson is enthused by the start of ‘an incredibly exciting new phase’ for the club following the completion of the deal and praised the attitude of the international consortium, which has been led by capital markets lawyer Jason Ye.
He said, “I’m delighted we have reached agreement with Jason and the whole investment group. The entire group has been a pleasure to work with on this transaction and has been extremely thorough in their approach. They’ve invested significant time to understand the club, our history, culture and the huge potential we have. I’m very excited and thrilled to be working with them moving forward and genuinely believe this heralds an incredibly exciting new phase in the club’s growth and development.”
Privilege
The club statement also confirmed the South Shields FC Foundation and the Women’s team will ‘remain central’ under the new setup and there is a determination to improve relations with the local community and the supporter experience at Mariners Park. The Mariners academy is also set for a major boost with both local and international players set to be recruited with the aim of ‘providing a gateway’ into professional football.
More significantly, the new ownership group expressed their determination to ensure South Shields remain ‘deeply rooted’ in local heritage - but will also look to attract new partners to aid their attempts to achieve growth and success as a promising new era gets underway at Mariners Park.
Ye is excited by what lies ahead for South Shields as a new chapter in their history begins and he insisted the club can ‘grow into a strong force on and off the pitch’ as they look to build on the foundations of a decade of progression and success under Thompson’s ownership.
Speaking on behalf of the consortium, he explained: “It is a privilege to join an organisation that embodies such a rich heritage, strong community spirit, and a location at the heart of one of the world’s most prolific regions for football talent. We know there’s plenty of hard work ahead, but we’re fully committed to building on the fantastic foundation Geoff and the team have already created.
"We truly believe SSFC can grow into a strong force both on and off the pitch. We would like to extend our sincere gratitude to Geoff for welcoming our group into the SSFC family, and we’re looking forward to meeting the fans and sharing this journey together.”
New era gets underway
There was one further announcement from the Mariners on Friday after they confirmed details of a home pre-season friendly with National League South club Dagenham and Redbridge. The Daggers will travel to South Tyneside on Saturday, August 1 for a game that will help raise funds for Prostate Cancer UK that will form part of a double header at Mariners Park with a Diabetes UK match taking place 24 hours later. That is expected to round off the Mariners pre-season schedule with their National League North campaign and their first competitive fixture under their new look ownership set to take place on Saturday, August 8.