Boardroom Changes

May 11, 2019

It’s been no secret that for some time the current owners have required further investment to boost the coffers and move the club forward. So, after being in talks with a number of potential investors over the past few months, Stewart Donald is looking to sell some of his 74% of the club to another party. He will make a tidy profit on the sale of his shares, but the new investors will also bring with them a much-needed cash injection.

 

Some of the interested parties have been looking to buy the club outright, but SD is keen to keep a decent percentage and stay involved. It’s also thought that Juan Sartori will hold onto his 20% and Charlie Methven will retain his 6%.

 

Some sources are claiming that the bare bones of a deal was agreed in principle earlier this week and this led to the story being leaked to the press on the eve of Sunderland's play-off semi-final against Portsmouth. Many fans believe that the timing of this news was not ideal.

 

After a Twitter storm on Friday night, where various journalists ran contradictory stories, Stewart Donald had this to say: "I think we're a little bit ahead of ourselves here," he said. "It's common knowledge, I've mentioned it before, we need a long-term plan that is going to involve getting some investment in the club. We've talked to loads and loads of people over the last couple of months, looked at options of trying to raise internal finance etc. Through the summer there's no doubt that they're we're going to take one of those options, but that will involve us staying at the club. We've worked hard in the last twelve months, we need stability. We want to get back up to the Championship on the field, that's important, we're trying to do that, but off the field the football club has been through a lot, our conversations have been about trying to get another investor or investors in, to help us long term to get back to the Premier League. We have to get to the Championship first, we know that, but the Premier League is the long-term aim and that's what the conversations have been about. I would expect and I'm certain that Charlie, Juan and I will be at the club in some guise next season, probably taking the option for one of the people to invest with us. 100%, I will own some or the current amount that I currently do in Sunderland next season and hopefully for years to come. But I might sacrifice some of that if it's in the interests of Sunderland to get some investment in."

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At the back end of the 1980s, football fanzines began to sweep the country and in 1989 we were presented with a new vehicle on which to enjoy some of this ride – A Love Supreme. ALS was a place we could all go to celebrate and commiserate being a Sunderland fan. Win, lose or draw, the pages of the fanzine became solace for many of us as we stumbled our way through our day to day lives, punctuated by the ups and downs of more match days than any of us care to remember.

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