It has been claimed that there is a financial hole at Sunderland of over £20m which has put potential buyers off from purchasing the club.
Both the Times and Daily Mail say they have seen the accounts at the Black Cats which show that owner Stewart Donald could sell the Wearside outfit without paying back the £20m in parachute money that is owed to the club.
The businessman used that funding to help buy Sunderland from Ellis Short back in 2018, however it was on the basis that he would pay that back to the shareholders over the course of his reign.
Whilst that could still happen, the latest update states that the £20.5m has been written off as an ‘exceptional operating expense’, which crucially means that there is no legal obligation for the owner to pay back the money.
It should be said that Donald has promised to do that but there won’t be any proof of that until the accounts for next year are released.
The former Oxford chief has made it clear in recent months that he is seeking fresh investment in Sunderland but the reports suggest this has been a major stumbling block when dealing with potential buyers.
This certainly does not paint Donald, Charlie Methven and Juan Sartori in a good light and fans should rightly be demanding answers over this and why the club are in such a position.
More importantly, if it’s putting new investors off, which it is, then that’s another major issue.
So, there needs to be some clarity on this over key figures and the support will want to know what the future holds because things are pretty bleak on and off the pitch for Sunderland right now.
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