Takeover close, perhaps ?

A £100m takeover deal for Sunderland could be agreed in principle by the end of this week, Sky sources understand.

Two rival bids, one from Germany and a second, a multi-national consortium, led by a group of Sunderland fans and financed in part with American money, are working night-and-day to reach an agreement with present owner Ellis Short.

Short is keen to sell, with an initial asking price of around £90m, rising significantly if the club wins promotion back to the Premier League in the next few seasons

Short met representatives from both rival bids in London last week and we understand that the German bid remains the favourite to agree a deal with the 56-year-old American.

Sky sources understand that a further two bidding groups are interested in purchasing the club. However, the complex nature of the deal means that both are unlikely to conclude the due diligence process in time.

While the Germans remain favourites to take a controlling stake in the club, a highly credible bid from a group of wealthy Sunderland fans is also at an advanced stage.

Gabe Turner, Ben Turner and Leo Pearlman from the television production company Fulwell 73 have joined forces with Tony Adams and the former Chelsea chief executive Paul Smith to launch the rival bid.

Fulwell refers to one of the old stands at Sunderland's former home, Roker Park. The 73, refers to the year they won the FA Cup 1-0 against Leeds United, with a goal from Ian Porterfield.

We understand that both bidders are keen to conclude business quickly. The club is without a manager and players are due to return to training in the next few weeks.

Sunderland enjoy a huge fan base, a modern stadium and some of the best training facilities in the country. Despite their relegation at the end of the season, the club are set to receive more than £90m in parachute payments from the Premier League.

Short bought the club from the Drumaville consortium back in 2008 for a reported £90m. Since then he has invested around £200m into the club.

 

He has invested £200m but how much have the club made in the 9 years, we thank him for that but the structure of our club is wrong and hopefully the new owners will sort that out, we need to bring young players through and do a Southampton, get their head scout here and need a huge backroom of staff.

 

Somebody wake me up when it's done. Boring things these takeovers.

 

The fact that there's two separate bids is great as they will hopefully be vying against eachother.

Might actually mean that we can appoint a manager and get some transfer business done sooner rather than later.

I'm leaning towards the German consortium for no reason whatsoever.

 

What I was going to post so you've saved me the trouble.

 

Good news and hopefully it be all sorted soon enough.

 

Still think we'll **** it up.

We'll enter due diligence with one group they'll plough through the finances and realise they don't have enough money behind them to run it.

By then the other group will have lost interest and walked away leaving us stuck with short and Bain

 

Thats the spirit!

 

You know it wont be. And when the date passes with no buyer it will take months to get a manager. We will appoint a caretaker who doesn't have time to make any signings or no one will sign as the club is in transition. Pessimism over.

 

You're like me - a glass half full kind of guy.

 

I think it go through if iam being honest pal.

If what you says happens then the club can **** right off big time.

 

I understand why people have a lack of faith about this going through because we're all conditioned to accept disappointment but I don't see any specific reason to worry. They want to buy, Short wants to sell. They'll be aware of the financial situation.

 

Fingers crossed. However since BSA was linked to the England job the club have literally given me nothing to smile or be optimistic about. That's 12 months.

 

Exactly. Very motivated parties = deal

 

I know the feeling mate it's been ****. This sale will be a turning point for us.

 

Yeh. But which way though?

I'll do what I usually do when it comes to SAFC, hope for the best and expect the worst!

 

A takeover deal for Sunderland could be agreed 'in principle' by the end of this week, according to fresh reports. ADVERTISING Officials from two rival bids are understood to be working round the clock to push through a deal for the Black Cats. American owner Ellis Short is set to decide between two bids; Television executives and Sunderland fans Leo Pearlman, Gabe Turner and Ben Turner - owners of Fulwell 73 Productions - or the unnamed German consortium. Sky Sports report Short met with representatives from both rival bids in London last week and a deal could be agreed in principle as early as this week, with the German bid said to be leading the race at this stage. Meanwhile, the consortium headed by Sunderland fans which is also trying to buy the club is being backed in significant part by cash from the United States. The consortium, which reportedly includes former Arsenal defender Tony Adams and one-time Chelsea business affairs director Paul Smith, is understood to have opened initial discussions with Short. Short has already opened discussions with Germany-based potential buyers, but the club revealed in a statement last week that there was more than one contender with "parties" interested in a takeover. The American businessman has put the club's search for a new manager on hold until the uncertainty surrounding its ownership has been resolved, although he also placed a deadline on discussions with pre-season fast approaching. That deadline is understood to be late June-early July, with Short understood to be willing to accept a deal in the region of £85million, although any sale would include add-ons should Sunderland win promotion back to the Premier League in the next few seasons. Short valued the club - which is £110million in debt - at £170million last season when they were in the Premier League. If a deal was agreed in principle, a period of due diligence would then be carried out which could take a few weeks. The Football League would also have to rubber-stamp any sale.

Read more at: http://www.sunderlandecho.com/sport...eed-in-principle-by-end-of-the-week-1-8606452

 

Tampax taking over. ****s.o

 

Good post mate, Information is what's needed at the moment.

Once this is sorted everyone can get on with being a supporter again.

Whatever happens I'll be there next season as I've always been.

 

Should be some cracking away days