Durham to remain in WSL2 as local investment provides financial lifeline
· Yahoo Sports
The future of WSL2 side Durham looks to be secure following confirmation of a significant investment lifeline.
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Amid uncertainties surrounding the Wildcats’ future, local investor Geoff Thompson has purchased a majority stake in the club.
The announcement follows a plea for potential investors to step forward earlier this month. Durham had stressed that if investment couldn’t be secured within 21 days, the club would cease operations.
Thompson, who is chairman and co-owner of fellow North East club South Shields, is backed in the deal by business partner Jason Ye.
Under Thompson’s stewardship, South Shields have seen a rise through the men’s pyramid. They reached the National League North play-off final last season but were unsuccessful on the day.
The operating costs for a WSL2 side are now estimated in the region of £750,000-£1 million per season.
Durham say that as part of the takeover plan, club founders Lee Sanders and Dawn Hepple will remain as shareholders. The existing executive management team will continue to lead the club’s day-to-day operations.
Durham handed major lifeline following future uncertainty
Speaking on the deal, both Hepple and Sanders are both excited for what the future now holds.
“We’re delighted to have Geoff and his team stepping up and securing an exciting future for the club.” Hepple said.
Sanders added; “We’re delighted to have a partner at the club who understands the region and North East football, and has the vision, knowledge and support system to help us realise all the ambitious plans we have for the club moving forward.”
Thompson himself also painted a positive picture for the club: “Working alongside Lee and Dawn, the club’s supporters, and our local partners, we are committed to unlocking the club’s full potential while ensuring it remains deeply connected to the culture, values, and identity that make the North East so special.”
With their long term future now secure, the Wildcats can now focus on the upcoming WSL2 season, a league they have competed in since 2014.
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