'I think the numbers are unrealistic': Stewart Donald told to rethink his Sunderland AFC asking price

Football finance expert Kieran Maguire, of the University of Liverpool, believes that Donald’s current asking price could prove ‘unrealistic’ in the current market - as clubs face an extended period without match day revenue.

While the club’s ownership have never publicly confirmed their asking price, it has been reported that Donald is looking for a fee around the £35million mark - although his holding company, Madrox Partners, have stated that this price is ‘flexible within reason’.

Indeed, it is understood that the idea of staggered payments has also been discussed to allow any potential buyers wish to split-up the cost of purchasing the club.

As reported by the Echo last week, groups are continuing to monitor the ownership situation at the Stadium of Light. However, an imminent change at the helm looks unlikely with no group currently in advanced talks with the current owners.

And Maguire believes that Donald may have to adjust his asking price should discussions progress with any interested parties.

“I think the realistic value of the club will fall for a variety of reasons,” he said, speaking to the Echo.

“First of all, there are no more parachute payments to look forward to, so you now have League One revenues and relatively high costs.

“You are buying Sunderland as a League One club, so £35million - for a club that is realistically going to be losing money - that’s quite steep.

“You’re also inheriting some players who have been on decent contracts as well, and it could be that those contracts haven’t yet expired by summer 2020, so you have those legacy costs as well.

“It’s a turnaround job and if you’re acquiring a club as a turnaround business then you should be paying turnaround prices.

“I think the numbers being spoken about are unrealistic in today’s market.”

Any potential new owner who takes the reins at the Stadium of Light over the course of the summer would have to help guide the club through uncharted waters.

Sunderland now face another three-month period - or potentially longer - without any match day revenue, and have also seen their Premier League parachute payments come to an end.

That could see their revenue drastically fall, and Maguire believes the club could be in for a ‘tough’ period.

“I think it will be especially tricky for a club of the magnitude of Sunderland,” he said of the challenges ahead.

“They’ve got high overheads, they’ve got a big training facility and the maintenance of the stadium itself - which costs money to run.

“Realistically, they’re going to go from a club with a turnover of close to £60million to last season to potentially £10million to £15million in a worst case scenario.

“They have high overheads too, so if you put that together it will be tough navigating for Sunderland in 2021.”