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It's done

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Re: It's done

Post  Siddall on 2018-05-21, 4:19 pm

Deal complete according to BBC
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Re: It's done

Post  Siddall on 2018-05-21, 4:20 pm

Deal complete according to BBC
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Re: It's done

Post  Kipper on 2018-05-21, 4:23 pm

Siddall wrote:Deal complete according to BBC

Yay!

Former Eastleigh owner Stewart Donald, in partnership with an international consortium, has completed his takeover of Sunderland from Ellis Short.
The £40m deal sees the League One club pass from Texan businessman Short, who has ended a nine-year spell as owner by writing off the club's debt.
The English Football League has ratified the change of ownership.

Donald says the club is now "debt-free" and he hopes to appoint a new manager "within the next seven days".
Previous boss Chris Coleman left the club at the end of April, on the same day that Donald's interest in taking control of Sunderland was made public.
Sunderland will begin the 2018-19 season at their lowest position in 30 years, after successive relegations from the Premier League to League One.
To pave the way for the deal to progress, Donald has agreed to pass his ownership in National League side Eastleigh to existing board members.
More to follow.
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Re: It's done

Post  Kipper on 2018-05-21, 4:23 pm

Siddall wrote:Deal complete according to BBC

Yay!

Former Eastleigh owner Stewart Donald, in partnership with an international consortium, has completed his takeover of Sunderland from Ellis Short.
The £40m deal sees the League One club pass from Texan businessman Short, who has ended a nine-year spell as owner by writing off the club's debt.
The English Football League has ratified the change of ownership.

Donald says the club is now "debt-free" and he hopes to appoint a new manager "within the next seven days".
Previous boss Chris Coleman left the club at the end of April, on the same day that Donald's interest in taking control of Sunderland was made public.
Sunderland will begin the 2018-19 season at their lowest position in 30 years, after successive relegations from the Premier League to League One.
To pave the way for the deal to progress, Donald has agreed to pass his ownership in National League side Eastleigh to existing board members.
More to follow.
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Re: It's done

Post  Kipper on 2018-05-21, 4:24 pm

Siddall wrote:Deal complete according to BBC

Yay!

Former Eastleigh owner Stewart Donald, in partnership with an international consortium, has completed his takeover of Sunderland from Ellis Short.
The £40m deal sees the League One club pass from Texan businessman Short, who has ended a nine-year spell as owner by writing off the club's debt.
The English Football League has ratified the change of ownership.

Donald says the club is now "debt-free" and he hopes to appoint a new manager "within the next seven days".
Previous boss Chris Coleman left the club at the end of April, on the same day that Donald's interest in taking control of Sunderland was made public.
Sunderland will begin the 2018-19 season at their lowest position in 30 years, after successive relegations from the Premier League to League One.
To pave the way for the deal to progress, Donald has agreed to pass his ownership in National League side Eastleigh to existing board members.
More to follow.
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Re: It's done

Post  Kipper on 2018-05-21, 4:26 pm

Such good news you needed to hear it a few times
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Re: It's done

Post  Kipper on 2018-05-21, 4:33 pm

And he had nothing to do with getting rid of Coleman apparently:

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Maybe he'll re-employ him!
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Re: It's done

Post  cyprussyd on 2018-05-21, 4:46 pm

Siddall wrote:Deal complete according to BBC
Billy and Siddal wont believe you

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Re: It's done

Post  sunderpitt on 2018-05-21, 4:47 pm

Good

Any info on who the backers are?
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Re: It's done

Post  Billy D on 2018-05-21, 4:48 pm

cyprussyd wrote:
Siddall wrote:Deal complete according to BBC
Billy and Siddal wont believe you
You're talking to Siddall yer daft tw*t.
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Re: It's done

Post  Billy D on 2018-05-21, 4:53 pm

sunderpitt wrote:Good

Any info on who the backers are?
Some Spicks & a couple of Arabs by all accounts.
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Re: It's done

Post  cyprussyd on 2018-05-21, 4:59 pm

Sunderland: Stewart Donald completes takeover from Ellis Short



  • 5 minutes ago

  • [size=13]From the sectionSunderland[/size]



[size=16][size=16]Sharethis page
[/size][/size]

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Stewart Donald (right) met with EFL executives in London on Friday to finalise the takeover
Former Eastleigh owner Stewart Donald has completed his takeover of Sunderland from Ellis Short.
Texan businessman Short, who has ended a nine-year spell as owner by writing off the club's debt, received £40m in return for the League One club.
The English Football League has ratified the change of ownership.
Donald says the club is now "debt-free" and added that he hopes to appoint a new manager to succeed Chris Coleman "within the next seven days".
Previous boss Coleman left the club at the end of April, on the same day that Donald's interest in taking control of Sunderland was made public.
Sunderland will begin the 2018-19 season at their lowest position in 30 years, after successive relegations from the Premier League to League One.
To pave the way for the deal to progress, Donald has agreed to pass his ownership in National League side Eastleigh to existing board members.
"We've given Ellis £40m, so that's the deal, and in return Ellis has tidied up his debt and that's now gone from the football club," Donald told a media conference on Monday.
"Ellis was very clear he didn't want the debt, but we didn't want the debt either so we refused that.
"The reality is Sunderland is debt-free which, for the fans, is good news."

'Considerable investment is needed'



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[size=11]One of Stewart Donald's first tasks will be to help Sunderland back into the Championship, starting with a managerial appointment

In addition to sourcing a new manager at the Stadium of Light, funds also need to be made available to that appointment for the overhaul of Sunderland's playing staff after back-to-back relegations.
Donald has agreed a staggered payment with Short in the purchase of the club, to free up further funds for the season ahead.
"We'll make as much as is needed, the transfer fees aren't large," Donald continued.
"Looking at the numbers we've put through, the budget for Sunderland is going to be pretty hefty, and much more than of the teams that were promoted last season.
"We can generate the funds we need for that, there's a quite a huge discrepancy between the remaining player income in relation to transfer sales and going out, so that needs funding - which we've committed to fund of course. We tidy that up, that leaves us neutral.
"We're looking at the playing budget, there will be transfer fees involved, and that's going to be a good budget for Sunderland - one that a few Championship clubs would like."[/size]

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Re: It's done

Post  Lever Malone on 2018-05-21, 5:01 pm

sunderpitt wrote:Good

Any info on who the backers are?
The following is from the report on the BBC website

What happened to the consortium?

Donald was initially named as the front man of an "international consortium" which would complete the purchase, but that plan was eventually scaled down to allow a deal to be struck.
"The timescale was getting crunched, and anything that delayed the process of the takeover would have a material impact on the summer business," Donald's business partner Charlie Methven added.
"We took advice from contacts around in the game and the EFL and what became clear was the process would be quicker and more straight forward if the club was simply taken over by Stewart.
"There are other people we have in mind who have further capital and contacts that we think could be useful for Sunderland going forward, and there are people who have expressed an interest.
"Stewart will be the majority shareholder whatever happens, it may well be that other people add expertise to our team, but for the time being it's Stewart and to a lesser extent me."
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Re: It's done

Post  sunderpitt on 2018-05-21, 5:17 pm

Lever Malone wrote:
sunderpitt wrote:Good

Any info on who the backers are?
The following is from the report on the BBC website

What happened to the consortium?





Donald was initially named as the front man of an "international consortium" which would complete the purchase, but that plan was eventually scaled down to allow a deal to be struck.
"The timescale was getting crunched, and anything that delayed the process of the takeover would have a material impact on the summer business," Donald's business partner Charlie Methven added.
"We took advice from contacts around in the game and the EFL and what became clear was the process would be quicker and more straight forward if the club was simply taken over by Stewart.
"There are other people we have in mind who have further capital and contacts that we think could be useful for Sunderland going forward, and there are people who have expressed an interest.
"Stewart will be the majority shareholder whatever happens, it may well be that other people add expertise to our team, but for the time being it's Stewart and to a lesser extent me."

Should we be worried... Donald may be rich but he is not wealthy enough to bankoll a Championship club nevermind a Premier League club. If any very wealthy backer came in they are likely to want 51%
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Re: It's done

Post  cyprussyd on 2018-05-21, 6:04 pm

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Re: It's done

Post  cyprussyd on 2018-05-21, 6:06 pm

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Re: It's done

Post  cyprussyd on 2018-05-22, 5:34 am

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Re: It's done

Post  Billy D on 2018-05-22, 8:07 am

cyprussyd wrote:[You must be registered and logged in to see this image.]
Good stuff.
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Re: It's done

Post  paddocklad on 2018-05-22, 8:52 am

Having watched the interview their enthusiasm has me excited about the season ahead the first time in ages so much so I am considering getting a season ticket for me and my son
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Re: It's done

Post  Vincemac on 2018-05-22, 9:03 am

sunderpitt wrote:
Lever Malone wrote:
sunderpitt wrote:Good

Any info on who the backers are?
The following is from the report on the BBC website

What happened to the consortium?






Donald was initially named as the front man of an "international consortium" which would complete the purchase, but that plan was eventually scaled down to allow a deal to be struck.
"The timescale was getting crunched, and anything that delayed the process of the takeover would have a material impact on the summer business," Donald's business partner Charlie Methven added.
"We took advice from contacts around in the game and the EFL and what became clear was the process would be quicker and more straight forward if the club was simply taken over by Stewart.
"There are other people we have in mind who have further capital and contacts that we think could be useful for Sunderland going forward, and there are people who have expressed an interest.
"Stewart will be the majority shareholder whatever happens, it may well be that other people add expertise to our team, but for the time being it's Stewart and to a lesser extent me."

Should we be worried... Donald may be rich but he is not wealthy enough to bankoll a Championship club nevermind a Premier League club. If any very wealthy backer came in they are likely to want 51%
Yeh I was led to believe that when we got promoted the backers would arrive
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Re: It's done

Post  Kipper on 2018-05-22, 9:11 am

Vincemac wrote:
sunderpitt wrote:
Lever Malone wrote:
sunderpitt wrote:Good

Any info on who the backers are?
The following is from the report on the BBC website

What happened to the consortium?








Donald was initially named as the front man of an "international consortium" which would complete the purchase, but that plan was eventually scaled down to allow a deal to be struck.
"The timescale was getting crunched, and anything that delayed the process of the takeover would have a material impact on the summer business," Donald's business partner Charlie Methven added.
"We took advice from contacts around in the game and the EFL and what became clear was the process would be quicker and more straight forward if the club was simply taken over by Stewart.
"There are other people we have in mind who have further capital and contacts that we think could be useful for Sunderland going forward, and there are people who have expressed an interest.
"Stewart will be the majority shareholder whatever happens, it may well be that other people add expertise to our team, but for the time being it's Stewart and to a lesser extent me."

Should we be worried... Donald may be rich but he is not wealthy enough to bankoll a Championship club nevermind a Premier League club. If any very wealthy backer came in they are likely to want 51%
Yeh I was led to believe that when we got promoted the backers would arrive
Are you worried about having the debt written off, a hefty transfer budget and a bloke who's committed to the club? Are you worried that we're in a much stronger position financially than we have been for a long time? It's clear that the EFL told Donald that if they had to check out a load of international investors the process would take much longer therefore we wouldn't get a managerial appointment for ages and therefore we'd be starting the season off on the back foot. Donald has enough to get us out of this league so don't worry and the international support can come in further down the line.
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Re: It's done

Post  Billy D on 2018-05-22, 9:15 am

Kipper wrote:
Vincemac wrote:
sunderpitt wrote:
Lever Malone wrote:
sunderpitt wrote:Good

Any info on who the backers are?
The following is from the report on the BBC website

What happened to the consortium?










Donald was initially named as the front man of an "international consortium" which would complete the purchase, but that plan was eventually scaled down to allow a deal to be struck.
"The timescale was getting crunched, and anything that delayed the process of the takeover would have a material impact on the summer business," Donald's business partner Charlie Methven added.
"We took advice from contacts around in the game and the EFL and what became clear was the process would be quicker and more straight forward if the club was simply taken over by Stewart.
"There are other people we have in mind who have further capital and contacts that we think could be useful for Sunderland going forward, and there are people who have expressed an interest.
"Stewart will be the majority shareholder whatever happens, it may well be that other people add expertise to our team, but for the time being it's Stewart and to a lesser extent me."

Should we be worried... Donald may be rich but he is not wealthy enough to bankoll a Championship club nevermind a Premier League club. If any very wealthy backer came in they are likely to want 51%
Yeh I was led to believe that when we got promoted the backers would arrive
Are you worried about having the debt written off, a hefty transfer budget and a bloke who's committed to the club? Are you worried that we're in a much stronger position financially than we have been for a long time? It's clear that the EFL told Donald that if they had to check out a load of international investors the process would take much longer therefore we wouldn't get a managerial appointment for ages and therefore we'd be starting the season off on the back foot. Donald has enough to get us out of this league so don't worry and the international support can come in further down the line.
I'm having a double hotdog with onions, ketchup & mustard for dinner so I'm happy.
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Re: It's done

Post  Vincemac on 2018-05-22, 9:34 am

Billy D wrote:
Kipper wrote:
Vincemac wrote:
sunderpitt wrote:
Lever Malone wrote:
sunderpitt wrote:Good

Any info on who the backers are?
The following is from the report on the BBC website

[h3]What happened to the consortium?[/size










[size=16]Donald was initially named as the front man of an "international consortium" which would complete the purchase, but that plan was eventually scaled down to allow a deal to be struck.

"The timescale was getting crunched, and anything that delayed the process of the takeover would have a material impact on the summer business," Donald's business partner Charlie Methven added.
"We took advice from contacts around in the game and the EFL and what became clear was the process would be quicker and more straight forward if the club was simply taken over by Stewart.
"There are other people we have in mind who have further capital and contacts that we think could be useful for Sunderland going forward, and there are people who have expressed an interest.
"Stewart will be the majority shareholder whatever happens, it may well be that other people add expertise to our team, but for the time being it's Stewart and to a lesser extent me."

Should we be worried... Donald may be rich but he is not wealthy enough to bankoll a Championship club nevermind a Premier League club. If any very wealthy backer came in they are likely to want 51%
Yeh I was led to believe that when we got promoted the backers would arrive
Are you worried about having the debt written off, a hefty transfer budget and a bloke who's committed to the club? Are you worried that we're in a much stronger position financially than we have been for a long time? It's clear that the EFL told Donald that if they had to check out a load of international investors the process would take much longer therefore we wouldn't get a managerial appointment for ages and therefore we'd be starting the season off on the back foot. Donald has enough to get us out of this league so don't worry and the international support can come in further down the line.
I'm having a double hotdog with onions, ketchup & mustard for dinner so I'm happy.

Yeh I’m ok with things moving the way there are
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Re: It's done

Post  Black Cat Kiwi on 2018-05-22, 9:55 am

Billy D wrote:
cyprussyd wrote:[You must be registered and logged in to see this image.]
Good stuff.

Fingers crossed it looks like the end of the "GC" Wink ......... cheers cheers cheers

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Re: It's done

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