apparently : SUNDERLAND are in talks with a German consortium about the possible sale of the club, and hope to discover within the next seven days whether the prospective buyers want to enter a formal process of due diligence. Black Cats owner Ellis Short has taken on the services of respected football consultant Dr Keith Harris, who has previously worked with Chelsea, Tottenham, Manchester City and West Ham to facilitate takeovers or encourage investment. Harris has been in contact with the German group about a potential buy-out at the Stadium of Light, and while the talks remain at a relatively early stage, there is growing confidence about the potential for a sale. Short has been actively trying to sell his 100 per cent stake in Sunderland for around 12 months now, but initial expressions of interest from China and the Middle East failed to result in a formal offer. Last season’s relegation has strengthened Short’s desire to cut his ties on Wearside, even though it inevitably means he has had to reduce his asking price significantly. The Irish-American businessman has invested more than £200m into Sunderland since taking over from Niall Quinn and the Drumaville consortium, but is now willing to accept around £110m in order to be able to walk away. Sunderland’s latest accounts revealed an overall debt of around £110m, with around £80m of that figure being owed to Short. The remainder of the debt is a loan that is owed to banks. At this stage, it is unclear how those debts would be repaid in the event of a takeover, although it is understood that the current negotiations with the unnamed German consortium involve significant potential add-on fees that would be due in the event of Sunderland winning promotion back to the Premier League. The German group were previously involved in discussions about a possible interest in Hull City, but opted to break off talks with the Humberside club, whose owners, the Allams, are also looking to sell. Meanwhile, Arsenal have been linked with a £5m double move for Sunderland youngsters Joel Asoro and Benjamin Mbunga-Kimpioka. The duo, who are both Swedish, are regarded as two of the brightest lights of Sunderland’s academy, with the development having alerted a number of top-flight clubs. The Black Cats hierarchy are anticipating a series of inquiries this summer, with Arsenal’s interest currently at the most advanced stage. Asoro, who is 18, joined Sunderland from Brommapojkarna in 2015, and became the Black Cats’ youngest Premier League player when he made his senior debut last season. The striker was part of the academy side that made it to the Premier League International Cup final. Winger Mbunga-Kimpioka is at an earlier stage of his development, having only turned 17 this year. He joined Sunderland from Swedish side Sirius last summer.
That's new. This means we paid another 30m of the bank debt this summer. That's the bank debt almost gone meaning most of the debt owed is now to Short himself. Which doesn't really endanger our future. As basically Short owes himself which can be reflected in the sale price. No wonder there's now interest in the club. Bit of transparency about our finances would perk a lot of people up. If we don't sell this season I looks like we can have a stab at a years two promotion push. Means the foundation of this season very important.
Don't think we will ever get transparency from Short mate, just the odd statement to cover his latest ****-up.. He's like the Theresa May of football owners, keeps it inside 4 walls, gets badly advised and then shoots himself in the foot with his decisions which normally leave a bad taste in the mouth..
Wrote off the debt and **** off Ellis. You're a billionaire, chalk it off as a business loss and snaffle it back that way.
