Hartlepool United have tonight confirmed that the club has been sold. It's been owned by the firm Independent Oilfield Rentals (IOR) since 1997.
They say the decision to sell is in the club's best interests.
Meanwhile current Chairman Ken Hodcroft has also stepped aside in the move.
The club's new owners haven't been revealed, although a statement will be released on Monday.
IOR released the following statement a short time ago:
For approximately 18 years IOR have owned Hartlepool United but today they can announce that new owners will be taking over the Club and Ken Hodcroft will step down as Chairman from today.
IOR believe this will be in the best interests for taking the Club forward into hopefully some exciting years ahead.
IOR would like to thank everybody for working together from January onwards to pull off ‘The Great Escape’ at the end of last season, including all members of staff and particularly the fans who gave their full support to the Club and IOR through what was a very critical period for the Club."
The club has said a further and more detailed statement will be made on Monday, June 22.
Tata Steel UK says it's approached the conciliation service ACAS to try to resolve a pension dispute wth its workforce.
The company has sites across the North East, at Hartlepool, Skinningrove, Lackenby, Darlington, York and Blaydon.
A one day strike is planned for later this month. Tata says it's facing a projected shortfall of more than £2 billion pounds this year. The Unite union says it's provoking the biggest crisis in the steel industry for a generation.
A group of North East business leaders sign an open letter calling for the region to embrace government plans for more devolved powers.Read the full story ›
Twenty-two jobs could go at a bio-refinery on Teesside.
Ensus UK employs just under a hundred people at its site in Wilton.
The plant has been off line since February due to what the company describes as 'continuing adverse market conditions across the European bioethanol industry.'
Ensus says that job reductions may be necessary across all areas in order to reduce losses and ensure the long-term sustainability of the business.
Grant Pearson, Commercial Director of Ensus UK said: “No decisions have yet been taken and all options aimed at avoiding compulsory redundancies or minimising the number of employees affected will be explored during consultation with employees and their representatives over the next four to five weeks.”
People in Hawes in North Yorkshire and the NE48 postcode area of Northumberland are to see cuts in fuel prices at local garages.
The Government is extending its rural fuel rebate to 17 more areas across the country which will cut 5p off every litre of fuel.
The scheme has been set up to help people who are currently faced with some of the highest petrol prices in the country. It will run for six years before it is reviewed.
One of Wearside's largest employers is set to expand, creating 120 new jobs.
Vantec Europe Ltd is building a second major warehouse in Sunderland.
The £23m building will become the largest-ever overseas project for Japan-based parent company Vantec Corporation.
Groundworks have started for the 436,000 sq ft warehouse and office building at the Hillthorn Business Park, which is close to Nissan.
The work will be completed in December, and Vantec will begin recruiting at the beginning of 2016.
Vantec Europe Ltd provides warehousing and logistics to Nissan Sunderland, Komatsu UK, Birtley and Cummins Engines, Darlington.
It currently employs over 1,000 people in Sunderland.
This is another major new project for Vantec and a great vote of confidence in our Sunderland operations from our parent companies VantecCorporation and Hitachi Transport System. The investment in this new warehouse next to the Nissan car plant will underpin our position as the largest supplier of ‘Just In Time’ logistics to Nissan Sunderland plant.”
Our ambitions for Sunderland to become Europe’s automotive hub are strengthened by this development, and it illustrates the continuing success of our Business investment team in attracting and securing major investments from global companies to the city, creating jobs and a remarkably strong automotive sector. The long-term relationships we build with businesses and investors underpin many thriving enterprises, now going from strength to strength.”
A poster campaign begins today at Heathrow Airport, encouraging firms to invest in the North East.
A series of images have been chosen to represent the breadth of the region's industries, from science, to marine engineering and the renewable energy sector.
Local firms were asked to submit photographs for the posters. Ten were chosen for the campaign.
The images will be on display for the next six weeks.
£500,000 worth of free advertising space is being made available for the campaign. The North East is the first of six UK regions to benefit from the opportunity.
Gas is now being created from sewage treatment. The project is called ‘Power from Poo’ and it has already been generating electricity.Read the full story ›
Newcastle United owner Mike Ashley has been named as the richest person in the North East, despite his fortune falling by £250m.Read the full story ›
Barclays has announced it will create more than 200 jobs in Sunderland by opening a dedicated fraud-detection centre.
The new posts will be based at the bank's offices on Wearside.
Barclays says it is a vote of confidence in the local economy.