William Storey-led consortium launches new '£42m-takeover bid' at Sunderland - reports

William Storey has once again been linked with a takeover bid of Sunderland AFC with a new report claiming a consortium he is fronting has offered the club’s ownership group £42m to sell.
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Storey was first linked with a move for the club two years ago before Kyril Louis-Dreyfus came on board as new chairman.

A report in the Daily Mail claims Sunderland’s ownership group – which includes Louis-Dreyfus, Stewart Donald, Charlie Methven and Juan Sartori – has been offered £42m to sell.

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However, Louis-Dreyfus, who owns 41% and the controlling share, has always spoken about his commitment to Sunderland and he has again stressed he has no intention of selling his share.

William Storey. (Photo by Bryn Lennon/Getty Images).William Storey. (Photo by Bryn Lennon/Getty Images).
William Storey. (Photo by Bryn Lennon/Getty Images).

Louis-Dreyfus has previously said he has of yet not been able to agree a deal to acquire Stewart Donald's shareholding in Sunderland AFC. Both Donald and Methven have previously confirmed they were willing to sell their stakes.

The report claims Storey’s group is looking to buy out all four owners and take over 100% of the shares.

Louis-Dreyfus met with the supporters collective last month after there was widespread outrage amongst the fanbase that a year after his arrival, it was revealed that he owned only a 41% stake in the club.

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That has renewed calls for the departure of the Madrox consortium, with Donald and Charlie Methven then stating publicly that they would sell their remaining 39% share for £11.7 million (valuing the club at £30 million as a whole).

Louis-Dreyfus has previously signalled that he is unlikely to meet that price, and has said that he would be open to a third party acquiring those shares if they are prepared to meet it.

He has insisted, though, that he will not relinquish the controlling agreement he demanded when acquiring his stake, which gives him a majority on the board and the power to make day-to-day executive decisions.

These reports come on the eve of the League One play-off semi-final clash with Sheffield Wednesday at the Stadium of Light, with a huge crowd of 40,000 plus expected to watch the game.

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On Thursday, the Mail reported: “The bid to buy Sunderland is supported by the ORIGIN Sports Group, an investment company based in London that has previously been involved in the PGA Tour and sailing's America's Cup.

“One of the founders of ORIGIN was former Tottenham Hotspur director and current Invictus Games chairman Sir Keith Mills.

“Sportsmail understands that Mills is not bankrolling the bid, with the investors, who would provide the capital, yet to be identified."

But a club spokesman told the Mail that Louis-Dreyfus had no intention of selling his share and he’d ‘not had any contact with any party wishing to purchase the club’ and that he remains committed to the long-term at SAFC.

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Sunderland face Sheffield Wednesday over two legs in the League One play-offs with the first leg taking place Friday night on Wearside.

Sunderland then travel to Sheffield on Monday for the return leg.

Wycombe and MK Dons do battle in the other semi-final with a place in the Championship the prize in the May 21 final at Wembley.