Ex-Premier League Stars' Failed Gateshead FC Takeover: A Legal Battle Commencing?

When rumours first surfaced around Victor Anichebe's takeover of Gateshead FC, a cautious optimism began to ripple throughout the Heed faithful.

Reports suggested he was heading a consortium ready to reinstate a pulse to the fan led ownership of the club which had been straining to merely keep Gateshead afloat since 2019.

But, less than half a year down the line, the takeover has failed and dissipated, instead replaced by endless questions about what went wrong, and the possible conception of legal proceedings on the horizon.

This is the story of Anichebe's failed takeover, Gateshead's uncertainty, and a series of controversial and shocking events that have led us to this point.

From Local Star to Local Saviour?

Gateshead FC hadn't exactly had the easiest couple of seasons before the idea of a takeover somewhat shifted the narrative.

VICTOR ANICHEBE🇳🇬

As of April 2025, he is moving into football club ownership & is reportedly involved in a potential takeover of Gateshead FC. He retired from football in 2018 after playing for Everton, Sunderland, West Brom, & Beijing Enterprises, earning 11 caps for Nigeria pic.twitter.com/Ty9c0NFGXr

— Forgotten Legs (@Forgottenlegs) April 24, 2025

An FA Trophy victory and playoff finish tarnished by major issues around the future of their stadium which prevented EFL promotion in 23/24. Followed by a heart-breaking finish to the 24/25 campaign which saw them capitulate toward the back end of the season and fail to make the playoffs altogether.

The feeling around the club wasn't exactly the most positive.

So, when the takeover rumours surfaced this provided some much needed positivity and hope.

Victor Anichebe, formally a player for Sunderland, Everton and West Brom, was not only said to be involved- but even began to actively show interest in the club, turning up to games and taking in the culture before there was even a hint of a formal announcement.

Ultimately though, it was that interest shown which ended up derailing his entire attempt to buy the football club.

Taking Charge Before Taking Charge

The interest and enthusiasm of Anichebe quickly turned to alarm bells for the Gateshead fans and ownership.

Seemingly dismissive of the idea that he still didn't own the club, Anichebe and people claiming to represent him allegedly began to hold meeting with players and agents that he viewed as additions to the Gateshead playing squad.

🚨 OFFICIAL ANNOUNCMENT 🚨

Gateshead have officially announced the signing of Frank Nouble on a permanent deal from Yeovil Town until the end of the 25/26 season. pic.twitter.com/B2JVR50OGb

— The Heed Hub HQ (@HeedHubHQ) March 22, 2025

The most notable and reported of which being Frank Nouble who, at the time, represented Yeovil Town. Yeovil's boss Mark Cooper revealed in an interview that Gateshead had made an enquiry about the striker, under the guise of their new ownership. He expressed this was 'odd' because the takeover wasn't yet completed and Anichebe held 'no official authority'.

This fuelled suspicions that the new consortium were trying to act as owners before the deal was actually complete, and crucially before they had passed the fit and proper owners test.

Staff Confusion & Dressing Room Unrest

As weeks passed with no formal announcement coming to the fore, restlessness was becoming rife throughout the club.

Manager Carl Magnay was asked about the takeover and stated he had 'no idea' what was going on or if it was even any closer to completion.

There were reports that Anichebe had been entering the Gateshead dressing room, telling the players what he expected from them, and even having conversations with those he wanted as part of his plans for the coming season.

All of which during a massively crucial time for the club as they looked to secure a playoff spot, AND before the deal was even complete.

AM - Greg Olley

Olley has left Gateshead, after an interview which provided an insight into what was going on behind the scenes at the club

From the North East, you’d imagine Olley would be keen to remain close to home, unless an EFL offer comes in. Hartlepool could be well… pic.twitter.com/pFOSUiYF0t

— tomhwilliams23 (@tomhwilliams23) June 7, 2025

These reports were backed up in a scathing interview by, at the time, club captain Greg Olley who damningly said that all of the speculation had created:

"A bit of a divide in the camp, we have tried to resolve it and bring it all back together. It's been tarnished for a while, a good few months."

The consensus was that the players were unsure of who was actually in charge and weren't sure which promises they could genuinely trust, a sentiment reflected in their form on the pitch as 9 defeats from 12 games saw a collapse which took them out of the playoff positions.

What was initially touted to be the 'quickest takeover of all time' had instead reared it's head as nothing more than a major distraction and season ending saga.

The Inevitable Collapse

In early may, the inevitable happened.

It was announced by the club that the takeover talks had concluded, and ended in despair. Anichebe's consortium had failed to acquire the club and after the long deliberation it appeared it was the clubs board which had called off the deal.

An update from club chairman, Neil Pinkerton, on behalf of the Board of Directors.#WorClub ⚪️⚫️

— Gateshead FC (@GatesheadFC) June 17, 2024

Shortly after this, long-serving chairman Neil Pinketon had resigned from his role sighting 'personal reasons' as the tagline. Reports stated that in fact, Pinkerton had become increasingly frustrated with the failed takeover and that his departure was linked to the fallout from it.

This meant that Gateshead had gone from a position of optimism and hope, to one where they were still without a proper owner, and had lost one of the steady hands which guided the ship through the preceding period of financial turmoil.

Legal Proceedings on the Horizon?

The most recent reports may suggest that the saga is, in fact, not over yet.

There is allegedly a current legal battle ensuing between Victor Anichebe and Gateshead FC. The reports would suggest that Anichebe is in the process of suing the club to recoup the funds he invested last season.

Gateshead FC are in a current legal battle with Victor Anichebe after the failed takeover was blocked by the gateshead board. Anichebe is suing the club to recoup his funds invested in the club last season. He only invested money on the basis that he would take control of the…

— josh (@joshgfc23) August 11, 2025

The alleged proceedings are lodged on the idea that Anichebe only invested money on the basis he would take control of the club, instead the takeover was blocked by the current board for a currently unclear reason.

Anichebe reportedly paid the fees for the aforementioned Frank Nouble deal, the signing of Tim Akinola, the wages he contributed to, and the debts he paid to stewarding companies- all of which he would allegedly be trying to claim through restitution in a court proceeding.

If this is the case, Gateshead FC face massive problems.

The club will simply be unable to pay back those funds and will face unequivocal uncertainty as a result.

There is a world where Anichebe ends up taking control of the club in a hostile takeover situation, but this would require the current stakeholders to voluntarily give them up, something which, if previous dealings are anything to go by, would be unlikely.

What the actual outcome of this whole saga will be is not yet clear. But the certainty is that Gateshead FC will not come out better off.

It could plunge them into another era of financial turmoil and render the efforts over the last six years to keep the club afloat pointless.

A takeover that once looked like it could bring excitement and promise, has left Gateshead FC in shark infested waters, and there seemingly isn't a way out.