UZZA_SPARTA
Midfield
...
- Martin Bain confirmed that the owner Ellis Short is actively attempting to sell the Club. They have sifted through various interest and two or three credible buyers are in discussion or in a process of due diligence. I pressed Bain on this because I wasn't convinced that we've ever had it categorically stated publically that the club is for sale. It is. ...
many thanks for the update...however, a few things raise some questions.
This first part about club confirming the so called 'attempt to sell'...
We already knew that Short has been trying to sell since around 2014 (I believe this comes from an article back in 2016 which was in the Telegraph):
"…Short has been interested in selling Sunderland for several years, but the emergence of the brochure (autumn 2016), which was produced by New York-based investment bank Inner Circle Sport finally confirmed this …The brochure lists a series of selling points to try to make Sunderland sound like an attractive investment opportunity, but ignores the fact the team has battled against relegation for the last five years and makes no reference to the fact it was one of only two top-flight clubs to operate at a loss last year (2015) … The club responded to questions about the brochure with an attempt to claim it was nothing unusual… Sunderland have unofficially been up for sale for at least two years (as per November 2016), but Short has been unable to find anyone willing to match his asking price... "
Inner Circle Sports (based in New York) have previously been involved with other British clubs (Sheff Wed in 2009, Liverpool for both previous US ownership takeovers, & Crystal Palace) and were also involved in the financing of Wembley Stadium… Back in 2012 they were also involved with Everton.
Then a few Q's on the highlighted parts below...
...
We got on to the future of the club. Clear as day we need a sale and it's business as usual until that happens. Good to hear Bain say its for sale. He says most of his day is now taken up going through due diligence with prospective buyers. He was positive that a sale will go through. It's essential because it was clear that we are ultimately in a state of paralysis without that happening. As the minutes say, Bain does speak to Short but not about day to day, only the sale. Otherwise Bain is completely in control and makes the kind of key decisions that someone like myself would just assume that the owner of the football club would want to be involved in, e.g. Coleman....
'we need a sale and it's business as usual until that happens'
so without any sale business as usual actually means no investment in club or players for second year running?
'He says most of his day is now taken up going through due diligence with prospective buyers'
'he says'.... but did nobody press him on that? If there is no potential buyers this then means most of his day is now taken up doing bugger all!
'As the minutes say, Bain does speak to Short but not about day to day, only the sale'
If there is no sale then this actually means they never speak, in the same way Coleman has never spoken to Short?
So, it could all be waffle and things carry on as they have done since 2014?