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SOME PEOPLE SEEM TO HIT A SNAG WHEN TRYING TO REGISTER! NOT SURE WHY? IF YOU HAVE A PROBLEM EMAIL ME AND I WILL SORT IT?
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Jim Rodwell says the EFL have Sunderland's takeover details

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Jim Rodwell says the EFL have Sunderland's takeover details Empty Jim Rodwell says the EFL have Sunderland's takeover details

Post  Exilium on 2020-12-13, 3:51 pm

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JIM RODWELL has confirmed that documentation relating to Sunderland’s proposed takeover has been lodged with the EFL, and is adamant that the club is not on the brink of administration.
Rodwell dismissed weekend reports suggesting the administrators could be called in if the financial picture does not change in the second half of the season, although Sunderland’s chief executive revealed the current ownership group are having to plug a funding gap of around £1m-a-month that has been created by the coronavirus pandemic.
He is adamant current majority shareholder Stewart Donald is committed to keeping the club afloat, but remains hopeful a takeover will completed soon.
Talks remain ongoing with Uruguayan businessman Juan Sartori and hedge-fund manager Kyril Louis-Dreyfus, with the pair set to assume 80 per cent ownership of the club, and the process has progressed to the stage where the EFL have become involved as part of their oversight procedures.
“There’s a takeover,” said Rodwell. “I said as much to some of our fans groups a few weeks ago. We’re just working through it. Everybody is working in a bona fide way – it just takes time. It is seriously, seriously complex. There’s so many moving parts to this. There is a will to get it done, although to be honest with you, these things are never done until they are done.

“But we’ve been in contact with the EFL. Certain documentation has been lodged with the EFL, but this is just the process you go through from a to b to c to get to that z point. But yes, some documentation has been lodged.”
With Sartori having been involved with Sunderland for the last two-and-a-half years, it had been assumed that a switch of majority shareholding would be relatively simple to inact. Rodwell, however, insists that is not the case, with the club’s complex financial position throwing up a series of difficulties that have to be worked through.
“It is just a process that takes time,” he said. “There’s not really a lot you can say other than you’re working through the mechanics of it. We’re all bound by various confidentiality agreements. It’s not that it’s particularly cloak and dagger – it’s just the way that business is done.
“There’s no great mystery to any of it – it just takes a lot of time. I’ve done a couple of these, but this is undoubtedly the most complex one because of the size of the business, the property that you own and various loans that are in place and that need to be dealt with. You’ve got the question of who funds the ongoing costs, it’s complicated.
“But there’s definitely a will for this to get done, without a doubt. Everybody is working coherently, absolutely. Everybody is working professionally, coherently, all parties.”
When Phil Parkinson was dismissed at the end of last month and Gus Poyet emerged as the early favourite to replace him, it was suggested that Sartori was heavily involved in the decision to change manager.
Instead, Rodwell insists the move was all down to the current board, led by Donald, along with the appointment of Lee Johnson and the decision to change managerial structure and install Kristjaan Speakman as a new sporting director.
“The reality is that the decision to remove Phil was taken by the board at Sunderland, and the decision to appoint Lee was made by the board at Sunderland,” said the CEO. “Similarly, the decision to appoint Kristjaan was made by the board at Sunderland. That’s just the fact. We’ve tried for long enough to keep spinning plates, but sooner or later, you’ve actually got to make some big decisions.
“I think the calibre of people that we’ve brought in with Lee and Kristjaan speak for themselves. I would be astonished if any new ownership group came in and decided that they could get better, or they weren’t for them. I would be amazed, although I suppose this is football and bonkers things happen all the time. But the appointments were made by the board of Sunderland. There’s only one board, and that’s the current board.”
Rodwell was asked directly about William Storey, founder of energy drinks company Rich Energy, who repeatedly takes to social media to claim he has offered £45m to buy Sunderland and also has £15m of working capital that would be immediately available.
“There’s a lot of things I would like to say (about Storey),” said Rodwell. “We’ve made it a policy to not talk about anybody while this process is going on at the moment. But I think at the right time, when everything comes to fruition, people will understand. I’ll let people make their own minds up about that.”
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Jim Rodwell says the EFL have Sunderland's takeover details Empty Re: Jim Rodwell says the EFL have Sunderland's takeover details

Post  Vincemac on 2020-12-13, 4:20 pm

It’s just taking time
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