International

Sunderland under new ownership

2018-05-22 08:02
Victor Anichebe.(Getty Images)

United Kingdom - Sunderland, who have fallen from the Premier League to the third tier of English football in two seasons, are under new ownership after a consortium completed a takeover of the club on Monday.

The consortium, led by Stewart Donald, the former owner of fifth tier side Eastleigh, paid £40 million to buy Sunderland from American businessman Ellis Short, who ended a nine-year spell in charge by writing off the club's debts.

"We've given Ellis 40 million pounds, so that's the deal, and in return Ellis has tidied up his debt and that's now gone from the football club," Donald told a news conference after the club confirmed the English Football League had ratified the change of ownership.

"Ellis was very clear he didn't want the debt, but we didn't want the debt either so we refused that. The reality is Sunderland is debt-free which, for the fans, is good news."

Read more on:    sunderland  |  english premiership  |  soccer

 

Read News24’s Comments Policy

 
 
Men
Women
Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter

Featured

The 2018/19 Absa Premiership season is in full swing. Will Mamelodi Sundowns retain their title? Or can one of Kaizer Chiefs, Orlando Pirates, Wits, SuperSport United - or another team perhaps - snatch glory from the Brazilians? Be sure to visit Sport24 for all the latest news!

Latest blogs
Vote

After Stuart Baxter stepped down as Bafana Bafana head coach, who would you like to see take over?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

 
There are new stories on the homepage. Click here to see them.