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Stewart Donald comments amid Sunderland financial scrutiny

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We’re not far off of the EFL Play-off finals this weekend now and there are three games on the way that are set to excite at Wembley.

In League One, Sunderland and Charlton take on one another in a repeat of the famous 1998 final and if such drama can be replicated we will be in for a treat.

However, away from the pitch, there is a distraction at boardroom level going into the weekend thanks to a report from the Daily Mail.

They allege that Stewart Donald and Charlie Methven are looking to sell the club in the near future in order to make a profit having put £5m of their own money into the takeover last summer – which reportedly totalled around £40m.

They claim parachute payments from the Premier League were the main source of the takeover, and now they are looking to sell for more than the total buyout.

As per the Chronicle, though, Stewart Donald has spoken out and reiterated his desire to stay at the helm of the football club.

He said:

“We could have accepted Ellis [Short’s] offer to port a large portion of his previous debt onto our company, kept the details of the purchase more confidential and sold the club in its entirety – for which I have had plenty of big offers.

“Instead, I have been as open and transparent as possible with the fans and I am clear that I wish to retain a significant investment in the club for the long-term.

“The notion that I am going to leave Sunderland in the short-term, having made a quick profit, is simply wrong.

Donald also addressed the financial breakdown of the deal, saying:

“Madrox [the company set up by Donald and minority shareholder Charlie Methven as a vehicle to buy the club] agreed a deal worth £40m with Ellis Short.

“This was £15m, plus last summer’s parachute payment of £25m – which came in just after we took over and was ring-fenced to pay off the last bit of bank debt.”

The Verdict

It’s a fascinating story, for sure, and time will only tell whether or not Donald does intend to stay for the long-haul.

He’s certainly made the right noises and been happy to fund signings, though, so in that sense, you might think he’s not immediately thinking of selling up.

On the other hand, though, such a rumour does seem to be persisting.


ScoopDragon Football News Network

Article title: Stewart Donald comments amid Sunderland financial scrutiny

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