Geoff Thompson refutes South Shields investment rumours and delivers sale update

South Shields owner Geoff Thompson has revealed he is in discussions with 'a number of interested parties' as he delivered a major update on the potential sale of the National League North club.

The Mariners supremo took control of his hometown club during the summer of 2015 and immediately returned them to their Bede-based home after a spell playing in Peterlee. With significant investment on and off the pitch, Thompson's tenure brought major success as the club rose through the non-league pyramid.

Success in his first season as owner was immediately followed by a historic quadruple as the Mariners won the Northern League title, Northern League Cup, Durham Challenge Cup and, most memorably, the FA Vase as Cleethorpes Town were swept aside at Wembley. Further promotions were secured over the coming years as the Mariners progressed into a full-time, professional outfit and achieved National League North status for the first time in their history.

The club's academy has continued to thrive and Thompson's investment also brought significant changes to their 1st Cloud Arena home, including a new 900-seater stand which is now sponsored by the Rocket Group.

However, with the focus now on his recovery following a cancer diagnosis, Thompson revealed he was putting the Mariners up for sale in October and confirmed he was in talks with two interested parties, including one from the United States.

As it stands, there is still no official confirmation over a sale, but the South Tyneside businessman has moved to quell social media speculation suggesting he is ready to pull his funding from the club in the near future.

Thompson did reveal a 'number of change' have taken place at the 1st Cloud Arena as he looks to move South Shields towards sustainability in preparation for a new owner taking control - but he insisted he will continue to support the Mariners financially until a sale is completed.

The statement in full read: "Following social media speculation over recent days, I would like to offer an update and reiterate my wholehearted commitment to acting in our club’s best interests.  

We are in discussions with a number of interested parties regarding my stake in the club. Those discussions have been positive and are progressing well, but we are not at the stage whereby a takeover is imminent.  

I continue to financially support the club and will do so throughout this process, as I have always stated. We have had an incredible journey since the summer of 2015 and everyone at the club – myself included – is fully committed to ensuring the most exciting moments are yet to come. That journey will continue.  

We are bolstered by several exciting initiatives, including our International Academy, which successfully launched this year and stands to welcome lots more student-athletes from around the world in 2024. However, we must be sensible and always have the club’s long-term interests at heart. We want a club to survive and thrive for the next 100 years, not just the next few.  

That is why it is essential we operate on a sustainable basis, and a number of changes have been made over recent weeks as we transition towards that.  This is part of a process to ensure we are investment ready and that the next custodian(s) of our great club are in the best possible position to take it forward.  

"The support of our fans, sponsors and community is more vital than ever at this critical point, so please continue to get behind the team and the club because without your backing, the future would look a lot less bright. You are what makes our club unique. I will continue to keep you as updated as possible during what is largely a confidential process.  All we ask is for your trust and continued support."

The Mariners are back in action on Saturday when they travel to Rushall Olympic looking to boost their bid for promotion into non-league's top tier.