Stewart Donald’s proposed Sunderland takeover is nearing completion and is expected to be finalised “next week.”
Eastleigh FC chairman Stewart Donald met with current Sunderland owner Elliot Short and English Football League executives today to discuss details regarding the impending takeover at the Stadium of Light, according to a report from BBC Sport.
A deal is supposedly in place for Donald to purchase the club from Short, but formal approval is required to complete the transaction for the League One outfit – having been relegated from the Championship in April.
“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,” said an official statement on the club’s website.
“We would like to place on record our thanks to the English Football League for their assistance during the process, at what is a very busy time of the football calendar for them.”
Following the meeting of the two businessmen, Short refused to answer questions regarding details of the takeover, although Donald had previously claimed that a successful transaction “would be spectacular,” in quotes from an earlier BBC Sport report.
Short is said to have agreed to clear existing debts with the club in order to facilitate the sale, while Donald has put his previous club Eastleigh FC, on the market to maximise funds.
Donald has undoubtedly taken on a mammoth task with the club’s current state, and wholesale changes will have to be made on Tyneside if the Black Cats are to return to the Premier League soon, after consecutive relegations.
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