Sunderland shareholders Stewart Donald and Charlie Methven have agreed to sell their shares in the club, it has been said.
Sunderland came under new ownership when Kyril Louis-Dreyfus bought the majority of Donald’s shares back in February 2021.
However, concerns over the club’s ownership structure emerged earlier this year when Louis-Dreyfus admitted that he only owns 41% of the club – with Donald retaining 34% while Methven holds 5%.
READ: Departing Sunderland man reveals motivation behind summer exit
But now, as reported by Tom White, it has been said an agreement has been reached for Donald and Methven to share their sales.
White revealed on Wednesday morning that while the sale of said shares is still subject to EFL approval, there is “confidence” that the deal can be done within five weeks.
Stewart Donald and Charlie Methven have accepted a bid for their shares in #SAFC. More info on the buyers to come in next few days. Deal needs EFL approval. A rep of the group was in the boardroom for P/O v Sheff Wed. There is confidence the deal will be done within 5 weeks.
— Tom White (@tomwhitemedia) June 1, 2022
White goes on to add in a separate tweet that the offer was actually accepted before the play-off final, and while exclusivity hasn’t been reached yet, it is expected to come soon.
Good news for all…
With Sunderland now heading for the Championship and the involvement of Donald and Methven coming to a close, fans will be hoping that they can push forward with the foundation of a solid ownership structure underneath them after years of instability.
Alex Neil will be determined to push on and build a solid Championship squad this summer though Louis-Dreyfus and co will surely be wary not to take too many gambles – especially given how their January gamble of bringing in Jermain Defoe panned out.
It will be hoped that the deal can be sealed over the next five weeks to leave the Donald and Methven era truly in the past.