how much did stewart donald pay for sunderland

Premier League football has never been more lucrative, but Sunderland squandered their golden eggs and eventually found themselves excluded from the goose that was laying them. [6] He agreed to sell Eastleigh so that he could own Sunderland. [1], On 3 September 2019, Donald sold Bridle Insurance to Finch Group. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. [8], On 31 December 2019, news broke that Donald was reportedly trying to sell the club after 19 months of ownership, due to backlash from fans. The latest Sunderland street where neighbours are enjoying a lottery win, Parents of Sunderland balcony fall man fly to Turkey to be by his side as family fear cost to get him home could top £30k. Earlier this year, though, Sunderland released a statement confirming that Donald was looking to sell the club amid fan unrest. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. New owner has two years to pay Ellis Short £40million but has handed over just £5m so far. For further details of our complaints policy and to make a complaint please click here. [14], Donald is married,[15] and lives in Witney, Oxfordshire. What is his Bordeaux salary? News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. American announces shock sale of relegated Black Cats minutes after the club revealed Chris Coleman had been sacked as manager. Donald has two years to pay the full £40m, which Short has secured against the Premier League parachute payments the Black Cats are due - around £45m over the next two years. He had hoped to confirm the appointment tonight, but despite talks said to be “progressing well”, the Scot’s contract has not yet been finalised. "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. Sunderland owner Stewart Donald has admitted ‘mistakes have been made’ during his tenure in charge. Stewart Donald could sell Sunderland without repaying more than £20 million in parachute payment money that is owed to the club, according to documents seen by The Times.It emerged last year that SUNDERLAND owner Ellis Short has agreed a deal to sell the club to a consortium headed by the chairman of a Conference club. Donald only had to prove he had £50m in cash to pass the EFL’s checks on prospective owners. [12], In an interview with BBC Radio Newcastle on 17 July 2020, Donald publicly named his asking price to purchase the club to any interested parties. [6], "Who is Stewart Donald, Sunderland's prospective new chairman? For other inquiries, Contact Us. "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 the years before I owned it.". Donald is a businessman from Oxfordshire, where his company Bridle Insurance was also based. "I was therefore determined to ensure that I leave Sunderland in the best possible hands and the best possible state to turn the corner. Registered office: 1 London Bridge Street, SE1 9GF. ", "Stewart Donald invests more than £500k to buy Oxford United stake", "Who is Stewart Donald? We have noticed that there is an issue with your subscription billing details. Donald is travelling to the Monaco Grand Prix this weekend to speak to Uruguayan businessman Juan Sartori about a potential investment. He and Stewart Donald have done a deal very quickly which means there are a few more odd clauses than a deal which might be ironed out over months but none of them to the detriment of the club. View our online Press Pack. Sunderland owner Stewart Donald features in the new season of the Netflix documentary Sunderland 'Til I Die - but who exactly is he and how much did he pay … [11] In an interview with TalkSport in April 2020, Donald stated that he was aware that he had made mistakes during his tenure as owner and that he understood the fans dissatisfaction. ", This website and its associated newspaper are members of Independent Press Standards Organisation (IPSO). In July 2015, Donald paid a reported £500,000 to buy a 10 per cent stake in Oxford United, the club he has supported since childhood. However, he did not become a board member due to a conflict of interest relating to his role at Eastleigh. Ellis received £40million for the sale of Sunderland in 2018. Home » Soccer » Sunderland owner: Who is Sunderland AFC owner Stewart Donald? Yet he has already started making a raft of redundancies as part of a major cost-cutting operation. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. Based in Witney, Oxfordshire, he is the owner and former chairman of Sunderland A.F.C. "Our group have all been involved in building - or re-building 0 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. Registered in England No. And Donald will have to foot the bill for Sunderland’s astronomical running costs, which were as high as £500,000-a-week before he took charge, with Jack Rodwell and Lee Cattermole both contracted to earn more than £40,000-a-week in League One next season. Donald will now give up his controlling interest in Hampshire club Eastleigh to control on Wearside as the club attempts to halt their alarming fall from grace. Stewart Donald, the owner of third-tier English soccer side Sunderland, is set to sell the majority of his shares in the club to American businessman Mark Campbell, according to the Daily Mail. “That process has now commenced. Short has agreed a deal to hand over control at the Stadium of Light to a group led by Stewart Donald, who runs non-league side Eastleigh, and paid up all the debts to leave them debt-free before his departure. "Ellis was very clear he didn't want the debt, but we didn't want the debt either so we refused that. For further details of our complaints policy and to make a complaint please click here. He did not become a member of the board due to conflict of interest relating to his role at Eastleigh. New owner Stewart Donald paid £40million to buy Sunderland from Ellis Short - and he has promised the new manager a "hefty" budget by League One standards. To see all content on The Sun, please use the Site Map. The announcement was made just minutes after the Black Cats had revealed they had sacked manager Chris Coleman following relegation to League One. [4] He developed a reputation for being careful with money, saying that he "hit the roof" because the club were giving free bottles of water to players who would only drink half; he saved the team £500 by stopping this. "The reality when you do this kind of deal, and there is still money outstanding on the deal, is that the person who has that money outstanding will want to take security against something so that if the owners then didn’t pay, he would have something to cover his money. Donald confirmed the takeover was confirmed on Sunday night after they gained EFL approval at the end of last week. Our journalists strive for accuracy but on occasion we make mistakes. Sunderland AFC’s owners are targeting a valuation of as much as 40 million pounds ($52 million) as they seek a buyer for the U.K. soccer team, people with knowledge of the matter said. Comments are subject to our community guidelines, which can be viewed, Ellis Short has announced he has agreed a deal to sell Sunderland to Eastleigh chairman Stewart Donald, Eastleigh chairman Stewart Donald is the head of the group taking control at Sunderland, Chris Coleman sacked by Sunderland after just five months in charge, Ellis Short has paid off the entire debts of Sunderland as a parting gift after selling the club, Sunderland boss Chris Coleman helps clear snow off pitch before training, Independent Press Standards Organisation (IPSO). How much did he pay? “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. [7] On 21 May, he officially became owner of Sunderland, doing so without the consortium to speed the transition. He also stated his intention to still remain a minority shareholder once the club had been sold. The Sun website is regulated by the Independent Press Standards Organisation (IPSO). Sunderland sold: Ellis Short agrees deal to sell up to Conference club owner Stewart Donald American announces shock sale of relegated Black Cats minutes after the … Speaking on Monday, Charlie Methven, who is a director under Donald and has a six per cent stake in the club, said: “The way in which Ellis has allowed us to do it is to pay some of the £40m in stages, to help us with the cash flow requirement this summer. "It's going to be a good budget for Sunderland and I'm sure it's a budget one or two Championship clubs would like. ALSO SEE –  Josh Maja: What was his Sunderland wage? Based in Witney, Oxfordshire, he is the owner and former chairman of Sunderland A.F.C. and former CEO of Bridle Insurance. "It's going to be a lot more than any of the teams that got promoted last season had got. He sold the business to Finch Group last year. Will Grigg transfer fee: How much did Sunderland pay for Will Grigg? [2], As of 2018, Donald has worked in the insurance industry "for more than 20 years". This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. The Sun website is regulated by the Independent Press Standards Organisation (IPSO). While Donald disputed the precise figures, evidence suggested he used as little as £5 million of his own money to complete the initial takeover of a club he was actively looking to sell on within a year. "That money is secured against parachute payments but that is just him making sure he gets the full value of the £40m from us.”. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. Follow our live Sunderland AFC blog for the latest from Stewart Donald's press conference.Donald said: "We've given Ellis £40m, so that's the deal, and in return Ellis has tidied up his debt and that's now gone from the football club. "The reality is Sunderland is debt-free which, for the fans, is good news.". He denied accusations from supporters that he was "being awkward" over the sale of the club and reaffirmed that "I know fans want me out and I'm desperately trying to get out". We and our partners use cookies on this site to improve our service, perform analytics, personalize advertising, measure advertising performance, and remember website preferences. Comments are subject to our community guidelines, which can be viewed, Stewart Donald has paid just an eighth of the agreed sale price for Sunderland, The Black Cats' new owner has two years to pay £40m but so far has handed over just £5m, Sunderland close to appointing Jack Ross as new boss, Ellis Short leaves with Sunderland still needing to pay transfer fees and a huge wage bill, There is also the small matter of finding a replacement for Chris Coleman, Sunderland boss Chris Coleman helps clear snow off pitch before training, Independent Press Standards Organisation (IPSO).

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