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Durham Women’s future has been preserved by South Shields co-owner Geoff Thompson following a deal to acquire a majority shareholding in the club.
Investment from local businessman Thompson, with financial backing from South Shields co-investor Jason Yee, Durham will be in Women’s Super League 2 next season.
The club made a desperate call for takeover on June 8 after potential investors threatened to lose their professional status.
In a statement, Durham said they had 21 days to find a buyer and told players and staff the club would have to “cease operations at all levels” if not.
Although the value of the investment was not disclosed, this latest news comes as a significant boost for Durham.
Thompson has been instrumental in the growth of South Shields FC and football in the North East region – first as chairman of the club where he oversaw three consecutive promotions before becoming co-investor in 2017.
He said: “With a decision to be made in a matter of days, the overriding priority was to protect the safety of Durham women and protect its long-term future.
“We strongly believe that the club plays an important role in the local community and deserves every opportunity to grow, progress and succeed.
“I would like to extend my sincere thanks to my new partner at South Shields FC, Mr. Jason E, for the trust and confidence he has placed in me, this club and the entire North East region.
“Together, we share a strong belief in the future of women’s football. We are confident that Durham Women are well placed to be part of this exciting journey.”
As part of the new acquisition plan, Durham club founders Lee Sanders and Don Hepple will remain as shareholders.
Durham was founded in 2007 as an under-10 girls football team and was accepted into the WSL structure as a senior women’s team in 2014.
They spent 12 years competing in WSL 2 as an independent women’s team with no affiliation to a men’s club.
Last season, Durham finished 10th in the second tier and previously reached the quarter-finals of the Women’s FA Cup twice.