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Sunderland EXCLUSIVE: Chairman Ellis Short to sell club for same price as his house

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Sunderland EXCLUSIVE: Chairman Ellis Short to sell club for same price as his house

Post  Silvers on 2017-10-12, 12:39 am

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ELLIS SHORT is ready to sell Sunderland for virtually the same price as his house.


By Ian Murtagh / Published 12th October 2017



Owner Short is slashing his asking price for the struggling Championship outfit to little more than the £57m his luxury west London pad is on the market for.



The American businessman has been looking for a way out of Sunderland for the past two years and thought he’d found a buyer in June.
But talks with two parties broke down while a Middle East consortium cooled their interest after seeing the books.
Sunderland’s latest accounts, released six months ago, revealed a club £110m in debt.

Despite relegation and dwindling crowds, that figure has been significantly reduced following a series of cost-cutting measures.
In June when Simon Grayson was unveiled as the Black Cats’ latest manager, chief executive Martin Bain claimed the club was no longer for sale.
That remains the case but Starsport understands discussions have taken place between Short’s people and other parties
over a potential sale.

Those interested have been told the new price for the club could be as little as half the £120m he wanted just four months ago
Last year, Short appointed Inner Circle Sports to seek would-be buyers and the New York-based investment bank produced a glossy brochure advertising the benefits of the Wearside club.
It failed to produce the desired sale with Short himself pulling out of talks with a German businessman and a London-based supporters’ group not following up their initial interest.
Talks with Chinese and American investors also collapsed with no-one willing to meet his valuation.
The loss of Premier League status – with little prospect of promotion in the short-term – has cut Sunderland’s value again.
While Short can expect a whopping profit on the Chelsea home he bought in 1997, that would be dwarfed by the hit he is likely to take on the club he took over a decade later.
The Sunderland chairman has ploughed almost £250m into a club which has struggled on the pitch throughout his time as owner.
He has pledged to carry on underwriting running costs while he remains at the helm.
But Short now accepts that to sell Sunderland, the price must drop again.

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Re: Sunderland EXCLUSIVE: Chairman Ellis Short to sell club for same price as his house

Post  cyprussyd on 2017-10-12, 6:05 am

It beggars belief if true that an astute businessman could not have seen this coming when all around could.

He could be losing around 60 mil but an investment of half of that last year may have kept us in the premiership.

I'm sure everyone hopes he sells but fingers crossed that if he does we like what we get.

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Re: Sunderland EXCLUSIVE: Chairman Ellis Short to sell club for same price as his house

Post  Nostalgic on 2017-10-12, 6:29 am

An article from The Star = nuff said.

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Re: Sunderland EXCLUSIVE: Chairman Ellis Short to sell club for same price as his house

Post  Billy D on 2017-10-12, 8:22 am

Nostalgic wrote:An article from The Star = nuff said.
Yes indeed.
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Re: Sunderland EXCLUSIVE: Chairman Ellis Short to sell club for same price as his house

Post  Kipper on 2017-10-12, 9:21 am

Billy D wrote:
Nostalgic wrote:An article from The Star = nuff said.
Yes indeed.

Don't care - I'll cling on to any hope.
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Re: Sunderland EXCLUSIVE: Chairman Ellis Short to sell club for same price as his house

Post  sunderpitt on 2017-10-12, 9:56 am

Well it is the Star  Exclamation

It is really about who takes us over... they need loads of cash and be willing to spend it
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Re: Sunderland EXCLUSIVE: Chairman Ellis Short to sell club for same price as his house

Post  vinkel on 2017-10-12, 10:59 am

Can't be true, cos Ellis has said the club is no longer for sale Embarassed.

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Re: Sunderland EXCLUSIVE: Chairman Ellis Short to sell club for same price as his house

Post  Hieronymus on 2017-10-12, 2:45 pm

If he has a house worth that much then to be honest he would hardly miss just writing most of our debt off as it would be a tax deductible loss for his companies anyway. Now we just need to find an Arab Emirate or Chinese Businessman that does still not own any football clubs in England.

But I did some research and found this table of owners and net worth, and note many clubs have much less rich owners than we do, hence the struggle to find a buyer.

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