Mariners confirm agreement on recapitalisation

THE majority owners of the Central Coast Mariners FC have today confirmed that agreement has been reached on a recapitalisation of the club.

THE majority owners of the Central Coast Mariners FC have today confirmed that agreement has been reached on a recapitalisation of the club.

Discussions involving Mike Charlesworth, Peter Turnbull and Lyall Gorman concluded late today with agreement in principal reached. Documentation of the agreement is underway.

The agreement will see Mike Charlesworth, an existing major investor, make a substantial fresh investment into the Mariners.

The injection of funds will allow the immediate payment of players, coaches and staff. In addition, the funds will allow the Mariners to implement business plans to continue the growth of the club.

Mariners Chairman Peter Turnbull has welcomed today-s agreement and thanked his fellow investors for working towards a sustainable future.

“Mike, Lyall and I have always placed top priority on the good of the Mariners and Central Coast football,” said Turnbull.

“The club is an integral part of the Central Coast region and we are determined to build a strong and stable club.

“In particular, I pay tribute to Lyall for his achievements in establishing the club. This agreement will see Lyall sever his formal ties with the Mariners, but he-ll always have a special place in the club.”

Turnbull has hailed the new investment by Mike Charlesworth as a turning point.

“Mike is a football man, like the rest of us, and he has a great passion for the game and the Mariners. Today-s agreement means the Mariners legacy will only get stronger.”