Sunderland AFC news: EFL stance on investment story as TFT launch Stewart Donald and Charlie Methven buy-out

Stewart Donald and Charlie Methven are said to be in discussions to sell their shares in Sunderland to a cryptocurrency group named The Fans Together.

While Donald and Methven are no longer on the board of directors at the Championship club, the pair still own a combined 39 per cent stake, despite being unpopular with supporters.

Kyril Louis-Dreyfus took a controlling 41 per cent stake of Sunderland in February 2021, while the Uruguayan businessman Juan Sartori retained 20 per cent.

Methven has previously said that he and Donald are prepared to sell their combined shares for £11.7 million (equal to a club valuation of £30 million).

But Louis-Dreyfus has distanced himself from the cryptocurrency group after the story broke late on Tuesday evening.

The news caused concerns among fans, yet Louis-Dreyfus has since released a statement of his own to try and clarify his position, along with fellow shareholder Juan Sartori, who has retained a 20 per cent stake in Sunderland.

And The Echo understands the EFL – the league’s governing body and who the group need approval from for any fresh investment in Sunderland – won’t comment regarding an ongoing situation.

The Echo understands they don’t ‘provide commentary’ on matters relating to changes of control.

Meanwhile, Louis-Dreyfus’ statement read: “Juan Sartori and I remain wholeheartedly committed to Sunderland AFC and our collective focus is on preparing for the upcoming Championship season.

“Neither I nor any employee from SAFC has had any dialogue with the Cryptocurrency Group ‘The Fans Together’ and although a timely conclusion to this matter is preferable, any transfers of shares must not compromise the club’s integrity.

“All shareholders must also be qualified to take the club forward in line with EFL Governance and have alignment with the values and principles of SAFC and its supporters, as well as our long-term strategy,” he added.

It is also understood that there is also a second group – separate from The Fans Together – interested in buying Methven and Donald’s shares, as per reports on Tuesday afternoon.