Gateshead FC have reached an agreement in principle to sell the club to American-based investment company Flacks Group, in a major development for the National League side.

The proposed takeover remains subject to approval from the Independent Football Regulator, but the announcement offers hope after a difficult period of financial uncertainty at the International Stadium.

Gateshead representative Stephen Paylor confirmed that player and staff wages will be paid immediately, bringing an end to an incredibly challenging 10 days for those at the club.

Flacks Group is a private family office specialising in the acquisition and operational turnaround of medium to large-sized businesses. Founded in 1983, the company has global assets valued at more than $7 billion.

Flacks Group spokesperson Phil Forster welcomed Gateshead as the group’s latest acquisition, expressing a desire to help the club move forward and fulfil its potential.

Interim chairman Graham Wood also welcomed the agreement, thanking the prospective new owners for their belief in the club’s future.

The announcement represents a potentially significant turning point for Gateshead, who have faced uncertainty over funding and unpaid wages in recent weeks. While regulatory approval is still required to complete the sale, supporters will hope the proposed investment provides the stability needed to rebuild both on and off the pitch.

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