Today, the EFL gave their approval for Stewart Donald to complete his takeover of Sunderland from American Ellis Short.
Short, who has been looking to sell the club for some time now after a disappointing few years, has agreed to sell the club to the soon to be former Eastleigh owner.
The deal between Donald, his international consortium and Short was agreed before the end of the season. It was a deal which saw manager Chris Coleman sacked after relegation to League One and also all outstanding debts paid. However, with all takeovers, the deal needed the approval from the EFL.
Sunderland Takeover Almost Complete
Donald and Short met with EFL executives at their headquarters in London today. After lengthy discussions, including assurances over funds and Donald’s sale of Eastleigh, the takeover was given approval. The deal between Short and Donald can now be finalised. As soon as this is done, Stewart Donald will become the majority shareholder at Sunderland. It is understood that the official transfer could take place early next week.
After today’s events, Sunderland released the following statement:
Following a meeting with the EFL on Friday, and the provision of further information, we can now confirm that the proposed sale of the club could be concluded as early as next week.
We would like to place on record our thanks to the EFL for their assistance during the process, at what is a very busy time of the football calendar for them. We are unable to make further comment at this time.
New Man in Charge
Once he is confirmed as the Black Cats new majority shareholder, Donald must begin work on preparations for next season. The first priority will be to appoint a new manager as soon as possible. Many names have been linked with the vacant manager’s position. An appointment needs to made sooner rather than later to give the new man time to prepare for the new season.
Sheffield United’s Chris Wilder, Leicester City assistant Michael Appleton and former Black Cats midfielder Alex Rae are believed to be the current front-runners.
With many players also departing this summer, the new owner and manager must oversee an overhaul in the playing staff. This will take time and money.
The sooner Stewart Donald can get to work the better as for as fans are concerned. They and the club do not want to be in England’s third tier longer than one season if at all possible.
A new era is beginning on Wearside and fans have everything crossed that it will be a lot more successful than recent times.