Stewart Donald set for EFL summit as he looks for Sunderland takeover resolution

Stewart Donald will meet with the EFL on Friday as he looks for a positive resolution to his proposed takeover of Sunderland.

Thursday, 17th May 2018, 3:23 pm
Updated Thursday, 17th May 2018, 3:26 pm
Stewart Donald is hoping the EFL will approve his takeover of Sunderland
Stewart Donald is hoping the EFL will approve his takeover of Sunderland

Donald agreed a deal to buy the club from Ellis Short over two weeks ago and has been going through the EFL Owners' and Directors' Test.

Short and Sunderland are desperate for the deal to go through so that preparations for the League One campaign can begin.

The Black Cats are likely to see a dramatic overhaul of their playing squad this summer, with chief executive Martin Bain already stating that around 14 new players could be needed.

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A pre-season schedule needs to be signed off and a new manager recruited following the departure of Chris Coleman.

The EFL are likely to seek further assurances from Donald regarding his sale of Eastleigh and his funding plan for Sunderland.

Earlier this week, Eastleigh released a statement saying that a deal to sell the club to existing board members had been agreed and merely required National League approval.

The statement read: "Eastleigh Football Club can confirm that owner and majority shareholder Stewart Donald has agreed to sell the club to the existing board members, along with a number of senior management staff currently working for the club.

"The club has been in discussion with the National League regarding the change of ownership, and we are now awaiting confirmation of their approval before matters can be concluded."

Donald is set to become a majority shareholder should the deal be approved, and will take on a club that had become reliant on Short's funding to continue operating.

The latest accounts for the 2016/17 season showed that he invested close to £20 million over the course of the season, with losses only increasing this season.

Donald will be backed by an international consortium but is understood to be the primary investor.