“However, we simply cannot afford to continue running the club on a full-time basis in the meantime and regrettably cuts in all areas of expenditure are a necessity.

“Naturally, we’ll look to remain competitive at the highest level of non-league football but we’ll need to become one of a growing number of part-time clubs in the national division.

“We fully realise that this isn’t the outcome anyone was looking for but we strongly believe it’s important that the town of Gateshead maintains its football club.

“We hope that everyone understands the situation and gets behind the club wherever and however possible to ensure this set-back is merely temporary.”

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