Gateshead have sacked manager Lee Cattermole following a poor run of results in the National League. Assistant manager Martin Smith has also left the club, who sit bottom of the league with just four points from their opening 12 games this season. The decision follows Saturday's 2-1 home defeat by Worthing - a seventh straight loss in all competitions.
Former Sunderland midfielder Cattermole joined The Heed in June on a two-year-deal but oversaw just one win and 11 defeats in his first 14 games in charge. Gateshead have 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 last week resigned from the board of directors and withdrew his funding support from the club.
Meanwhile, players and staff have yet to receive their wages for September. However, the club has appealed for its remaining shareholders for time to find fresh investment. "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," read a club statement.
"In the circumstances it would appear unlikely that the share transfer from Nellist to Paylor will gain IFR approval."
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