An insight into the steps being taken by Sunderland’s new owners - and why a deal is yet to be announced

Sunderland fans have ‘no need to worry’ over the lack of updates regarding the club’s takeover - according to a sport finance expert.

Thursday, 12th September 2019, 3:57 pm

Dr Daniel Plumley, of Sheffield Hallam University, has revealed the steps the American consortium looking to buy the Black Cats will currently be taking as they look to finalise a deal to take ownership of the club.

And, with the news of their interest having broken several weeks ago, fans are craving further updates on the situation.

But Plumley insists this period of silence is nothing unusual, and has explained exactly what John Phelan, Robert Platek and Glenn Fuhrman are doing behind the scenes.

This is why Sunderland's takeover hasn't been completed yet

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“It’s par for the course and there’s certainly no need to worry,” he said.

“Fans want things done quickly, but takeovers do take time.

“There’s a period of due diligence which is usual, so the new owners will be looking at the books, all the assets and the situation of the club including future projections and things like that.

“To do that properly takes time. It’s not unusual and it’s the right thing to do.

“If you look at a lot of instances recently at clubs, things have gone wrong because due diligence has not really been done.

“Likewise, the EFL will be looking at it as well - particularly given what’s happened at Bury and Bolton.

“I don’t think funds are an issue with the consortium here, but it’s just a checking mechanism on both sides.

“I think the current owners, in terms of the way the shares are set up, they seem fairly confident that the deal is there and they’ve got the right people.

“It should just be a matter of time, really.”

Indeed, the fact the takeover concerns Sunderland - who possess a number of tangible assets - adds some further factors for consideration.

“For a club of Sunderland’s size as well, there’s a lot of assets and things to consider,” added Plumley

“The stadium, the training facilities, everything will be looked at.

“I know there’s been a big emphasis on the academy and moving that forward, so the new owners will be looking to get a grip of it all.”