The future of WSL2 side Durham is now secure, as local investor Jeff Thompson has purchased a majority stake in the club in a significant investment. Amid uncertainty over the Wildcats' future, Thompson's move opens up new horizons for the club.
An appeal was made to potential investors last month. Durham said if the investment was not received within 21 days, the club would cease operations. Thompson, who is chairman and co-owner of another north-east club, South Shields, has also included his business partner Jason Yee in the deal. Under Thompson's leadership, South Shields have improved in the men's league and reached the play-off final of the National League North last season.
Running costs for WSL2 teams are currently estimated at around £750,000 to £1000,000 per season. As part of the acquisition plan, club founders Lee Sanders and Don Hepple will remain as shareholders, Durham said. Members of the current executive management team will continue to run the club's day-to-day operations.
Commenting on the deal, both Hepple and Sanders are optimistic about the future. "We are extremely pleased that Jeff and his team have secured a bright future for the club," Hepple said. "We are delighted to have a partner at the club who knows football in the region and the North East and can provide the vision, knowledge and support to help us realize our ambitious plans," Sanders added.
Thompson himself painted a positive picture for the club, saying, "Working with Lee and Don, the club's supporters and our local partners, we are committed to unlocking the club's full potential." With their long-term future now secured, the Wildcats can now focus on the upcoming WSL2 season, in which they have participated since 2014.
