How a dramatic week on Wearside played out as Sunderland takeover edges closer to reality

Sunderland fans are used to the ongoing takeover talk at the Stadium of Light, especially over the past 18-months or so and this week took another dramatic turn in the ongoing saga.

News emerging on Friday afternoon, initially from the Guardian, that a consortium led by Juan Sartori and Kyril Louis-Dreyfus are closing in on a deal to purchase the club.

It is Sartori and Louis-Dreyfus - the son of wealthy former Marseille owner Margarita - that is in the well-publicised period of exclusivity with Stewart Donald.

Donald would retain a 15 per cent stake in the club as part of the deal, but it would be the group led by Sartori and Louis-Dreyfus who would hold the majority control of the club.

A deal could be concluded before Christmas but it would be subject to the EFL owners’ and directors’ test, which would take a few weeks at least.

Charlie Methven is also set to retain a minority share in the club.

Sunderland fans have grown weary in recent months waiting for some clarity and concrete news and while the club isn’t saying anything yet about the latest reports, this is clearly a significant and major development in the saga.

It has proved a dramatic week on Wearside.

The takeover again took centre stage on Wednesday evening after it was confirmed Sunderland had cancelled a scheduled meeting with supporters' groups - due to the 'advancement and sensitivity' of takeover talks.

Key figures at the club, including chief executive Jim Rodwell, were set to meet with various fan groups on Thursday in their latest structured dialogue meeting.

The continuing uncertainty surrounding the ownership of the club was set to feature high on the agenda, with Rodwell confirming last month that the club remained in exclusivity with a preferred bidder over a deal.

What did the club have to say?

Rodwell, on Wednesday evening, explained: "After discussions with the relevant fan groups, we have taken the decision to postpone tomorrow’s supporter collective meeting.

“The club remains in a period of exclusivity with a preferred buyer and due to the advancement and sensitivity of this process, it would be inappropriate to comment publicly at this time.

“I would like to thank our supporters’ groups, and the wider fan base, for their continued patience and understanding throughout this period.”

What was the reaction from fan groups?

The Sunderland AFC Branch Liaison Council – which represents supporter club branches throughout the country – said they understood the decision of the club.

They tweeted: “We're disappointed that the meeting has been cancelled as we had lots to discuss but we fully understand the position of the club in regards to the period of exclusivity.

"We look forward to meeting in the near future.”

The Red and White Army (RAWA) said in a statement: “The Red and White Army are disappointed that the club have cancelled Thursday’s Structured Dialogue Meeting. We have a range of questions and topics to cover following consultation with our members and the wider supporter base. We know that fellow supporter groups have also requested a range of discussion points.

"We note that the reason for the cancellation is due to SAFC being in advanced talks about a potential takeover with an unnamed party. We understand that this would make some of the proposed agenda items difficult to discuss, hence the postponement.

"The apparent progress of a sale will be welcome news to the majority of Sunderland supporters. Earlier this year, RAWA surveyed fans on their attitudes to the current ownership, with 90% of supporters stating they were unhappy and they should sell to a reputable buyer.

"We are acutely aware that there will be a large number of fans who may greet this latest news with a dose of cynicism, citing that there has been a potential sale in one form or another, since Spring of 2019. RAWA are not privy to any further information regarding a potential sale and so we will watch with great interest and eagerness for imminent news of a positive conclusion.

"Despite a reasonable start to the season in terms of results in League One, many fans continue to be disillusioned and frustrated at the direction of SAFC, whilst taking into account the huge disruption in the game caused by COVID-19. It is widely accepted that there has been a breakdown of trust between the ownership and the fan base for a variety of reasons, and we sincerely hope matters are about to finally reach a positive conclusion.

"In July, the club board asked for ‘breathing space’ – that was four months ago and the patience of a lot of fans is wearing thin. Many of our members are already pushing for supporters to act and once again display their feelings about how the club is being run. Anything other than a swift and positive resolution in a change of ownership will only serve to raise the temperature further.”

What questions were going to be asked at the meeting re the takeover?

On Friday, RAWA published the list of questions they were due to put to the club’s current owners regarding the ongoing sale process.

A statement read: “At the open meeting members asked that RAWA share these questions should the meeting on 12th November not go ahead. Below is a list of questions that were the main thrust of what you the fans told us to ask. It is not an exhaustive list and had the meeting gone ahead RAWA did have follow-up and tangential questions prepared. That said these were the reoccurring questions that we gathered from the fanbase.”

The questions, regarding the takeover situation, were:

· Where are we at with regards to takeover?

· What are the timelines looking like for takeover?

· If a takeover goes through, who will be responsible for day-to-day running of the club, for example, are existing members of the club hierarchy likely to stay on in some positions (board members etc)?

· Can we rule out an approach by William Storey and put that on the record?

· A lot of members have commented that the owner has removed himself from the 'firing line' by stepping down as chair, is he just biding time and hoping to ride the season out with promotion as an option?

· If no takeover is concluded, is Mr Donald still looking to leave and will his asking price reflect this?

· In July, RAWA were asked by the club for some breathing space while a takeover was to be concluded, what can the club put on record to reassure concerned supporters about the direction of the club at present?

· If, like previous takeover attempts, this one does not materialise, what plans are in place for the future of the club?

What next?

A dramatic week ends with a return to League One action, Sunderland hosting MK Dons at the Stadium of Light on Saturday afternoon.

Beyond that, fans will want further clarity soon on the takeover deal and when it is likely to be concluded by and what the plans are for the club moving forward under ‘new’ owners.

Watch this space.

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