Sunderland takeover: Stewart Donald close to selling club to MSD Partners LP
Last Updated: 23/08/19 12:00pm
Sunderland are close to being taken over by American investors MSD Partners LP.
The group presided by Glenn Fuhrman, John Phelan and Robert Platek are close to agreeing a deal to take a controlling share in the club from current owner Stewart Donald, who will remain on the board with a reduced stake in the club.
The trio are principals of MSD Partners LP, a New York City-based investment firm that manages the capital of Michael Dell and his family.
Multi-billionaire Dell, the tech magnate behind Dell Technologies ranked as one of the richest men in the world by Forbes, is also investing in the deal, but is expected to be a passive, minority investor in support of his longstanding business partners.
Donald, who bought the League One club for £40m in May 2018, told fan podcast Roker Report last week that the deal is 'hugely exciting'.
"We've got a preferred partner, someone that we think can really do what we've talked about doing and come with us to take the club to the next level," he said.
"I hope that we can get the deal over the line because I think it's a hugely exciting deal for all the right reasons."
The new group, who are still doing due diligence ahead of completing a takeover, were at the Stadium of Light on Saturday to witness the Black Cats' win against Portsmouth.
A takeover by American businessman Mark Campbell fell through in June after the investor pulled out over fears he would bankrupt the club.