Sunderland confirm current sale talks will not continue
Thursday 29 June 2017 13:33, UK
Sunderland have concluded a sale of the club "would not be in the club's best interests" following talks with potential new owners.
Owner Ellis Short had been in talks with two bidders, one from Germany and a second, a multi-national consortium, led by a group of Sunderland fans and financed in part with American money, over a £100m purchase of the club.
Short met with representatives from both rival bids in London earlier this month and the German bid was the favourite to agree a deal with the 56-year-old American.
But the talks have now concluded and no agreement has been reached.
"Recently, we informed supporters that discussions were taking place with parties who had expressed an interest in acquiring ownership of Sunderland AFC," said a club statement.
"Subsequently, more detailed talks were held over the last week with one of these groups.
"Ellis Short and the board were committed to ascertain if this group was better placed to take the club forward in the right way and to improve it, both on and off the pitch.
"A defined time frame was placed on discussions to ensure that the club could move forward quickly and decisively with its plans for the new season should they not come to fruition.
"We have concluded these talks and have determined that this proposed sale would not be in the best interests of Sunderland AFC.
"Ellis Short will continue his commitment to the club, both financially and personally, moving forward."
