A consortium led by Stewart Donald, curretly chairman of Eastleigh? I've no idea who he is, guessing we're not talking mega money though. Anybody know his background? This article from February doesn't sound exactly promising... https://www.bbc.co.uk/sport/football/43032461
Utter shambles. This is obviously why Coleman has been sacked. They must already have Joe Bloggs from Spennymoor Town lined up.
This is exactly the kind of thing that I've been concerned about. Short has sold out to what can only be described as a small-timer. While making us 'sustainable' sounds good, given this blokes history I am very concerned that it is a sub-text for 'staying in League 1'
What i've read this bloke from Eastleigh is heading up a consortium of International investors...Lets see what happens before we jump the gun
http://www.leasingbrokernews.co.uk/bridle-leasing-success-reflected-chairmans-2m-soccer-showpiece/ Here's some more info on him
Donald has been approached by a consortium looking to buy the club, whose debts stood at £110.4m in their last published accounts, over a year ago. His part, however, would only be a small one, and his interest appears to be as much about gathering information to help his own club. “If I’m honest I am not that heavily involved,” he admitted to BBC Radio Solent. “What has basically happened, it is common knowledge the club is for sale and there are a few consortiums and whenever there are consortiums there is generally a shortage of money somewhere along the line and I always get asked if I’d be an investor. “I always say yes because it gets me knowledge of lots of things that happen at different clubs and I can take that away and it helps me here. “That is the situation at Sunderland, there is a lead investor and they have asked me would I be involved and I have said ‘Look, I won’t rule it out but it needs to make sense.’ “Quite where exactly it is, I don’t know, I think there is quite a few people interested in Sunderland at this time.” As Donald says, plenty of investors are thought to have approached Short about buying his club, although they will have been required to sign non-disclosure agreements which makes knowing how many and who hard to know with any certainty. Last summer a German consortium and film, television and music production company Fulwell 73 both had talks with Short, but he called them off when he felt they were meandering nowhere and harming the on-field progress of the club. The Football League’s dual ownership rules would force Donald to sell Eastleigh, even though they play in the Conference, to invest in Sunderland. “In all honesty I have some attractive football clubs that would have made me money and I have said I can get involved if it doesn’t affect Eastleigh but it has both times so I have just said no,” Donald revealed. “It is extremely unlikely anything will happen but if remotely something did happen it would mean I would have to let Eastleigh go but it would have to be an absolutely sensational deal for that to be the case. “I have put an awful lot of hard work and money into Eastleigh and I have ambitions of getting them in the Championship. “If for any reason this deal looks different to all the others put on my desk, this club is debt free and run a certain way and there is no way on this earth I would ever jeopardise Eastleigh’s future over making some pounds somewhere else.” ----------------------------------------- This was just one week ago.
Well I for one think this is great news all round. Biggest thing for me is we're now DEBT FREE!! Feel sorry for Coleman though... Also this means we don't have to worry about administration.
I like the line that he pulled out of talks with Fulwell73 because THEY were harming the on-field progress of the club. Said with no sense of irony
It will be approved if it's got to this stage as they'll already have been assessed on suitability. Sure that happens before talks can begin.
As much as Short going is incredibly good news, it’s also an incredibly nervous time finding out the exact ins and outs of what’s happening.
Yes - Here is the club statement. Ellis Short, owner of Sunderland AFC, has agreed to sell the club to an international consortium of football investors. The deal, which is subject only to English Football League approval, will see ownership pass to a group led by Stewart Donald, chairman of Eastleigh FC. Announcing the news, Ellis Short said: “It is no secret that I have been trying to sell Sunderland, but I have waited until the right group came along that have the experience, finances and plan to take this great club back to where it deserves to be. “Overall, my chairmanship has not gone the way I would have wished; the many high points of a decade in the Premier League have been overshadowed by the low points of the last two terrible seasons. I was therefore determined to ensure that I leave Sunderland in the best possible hands and in the best possible state to turn the corner. To achieve this, higher offers from less qualified buyers were rejected, and I have paid off all debts owed by the club to leave it financially strong and debt free for the first time since years before I owned it.” “Assuming that Stewart and his group win EFL approval, it only remains for me to wish them, and all associated with the club, the very best for the future. I will be a Sunderland fan for life, and hope to return as a fan to watch them climb back to where they belong.” Donald, who will now relinquish ownership of Eastleigh, said: “All of us involved in this bid believe that Sunderland represents an extraordinary opportunity. Our group have all been involved in building – or re-building – football clubs to reach their potential and we believe that over the last decade we have acquired the necessary skillsets to overcome the many challenges that will face us at this huge club.” Aside from his association with Eastleigh, Donald has also been a key behind-the-scenes presence at Oxford United in that club’s revival over the last ten years, as an investor, shirt sponsor and supporters trust committee member. He added: “Eastleigh and Oxford are different cases to each other and, of course, smaller than Sunderland. The similarity, though, is that there is also a lot that needs to be addressed here, and it needs to be addressed with realism, focus and dedication. For a club with one of the best fanbases, stadium and academies in the UK to find itself in League One is unacceptable. “We have a carefully thought-through plan to restructure the club, make it sustainable and, with the help of the fans, to restore its sense of pride and re-connect it with the local community. In short, we are rolling our sleeves up to do what needs to be done to ready this club to start competing again.” Out of respect for the EFL process, neither Sunderland AFC, Ellis Short nor Stewart Donald will be making any further comment on the sale of the club until approval is granted. https://www.safc.com/news/club-news/2018/april/club-statement-regarding-ownership
It'll be interesting to see who is involved. This statement from Short "To achieve this, higher offers from less qualified buyers were rejected" makes me wonder though.
Feel sorry for Coleman. But the club is debt free and it sounds like this Donald bloke has a plan. From what I read he invested 10m into Eastleigh, and he is now backed by an international consortium. Heard a bloke called arsene is free, anyone know if he's any good?? More seriously, Mccarthy anyone ?
