William Storey is once again fronting a bid to buy Sunderland from the current shareholders, this time his bid is valued £42m. He has tried previously, back in 2020, but was unsuccessful in his pursuit.
He now wants to take on 100% of the shares, buying out all four of the club’s current owners. However, there are serious questions marks as to whether Storey actually has the capital to purchase the Black Cats and then fund the club with transfers, wages, etc.
The Daily Mail broke the news of his potential interest and there is reported interest within the current ownership group of selling up. Stewart Donald, who has a 34% share, and Charlie Methven who owns 5% have spoken of their desire to sell their shares in Sunderland due to their lack of an active role in the running of the club.
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Kyril Louis-Dreyfus is the owner of the largest share – 42% - and he remains committed to staying in his position at the club, regardless of whether they are playing in the Championship or League One next season. Storey believes that, should the Black Cats fail in their promotion bid, the chance of his bid being accepted will be increased.
Storey wouldn’t be the only one putting his money into the club and he seems to be supported by the ORIGIN Sports Group which has history of involvement in sport with the PGA Tour and the America’s Cup in sailing. The investors, who would provide the lion’s share of the capital needed to fund the club, are yet to have been identified which will worry supporters.
The fanbase at the Stadium of the Light are already sceptical of Storey’s intentions following the smoke and mirrors nature to his first bid for the club. In the Q&A conducted with the businessman by ChronicleLive, of which all four parts will be available to view below, there were several questions that Storey wasn’t totally comfortable answering.
Given the amount of EFL clubs who have had problems with their owners in the last few years, Sunderland fans are right to be cautious. In the immediate short-term future, those in charge on Wearside will be fully focused on the Black Cats’ play-off campaign against Sheffield Wednesday.
Only until that is concluded will they entertain any discussions about the future ownership of the club.
