Ellis Short opens sale talks with consortium led by Sunderland fans

Ellis Short opens sale talks with consortium led by Sunderland fans

A consortium headed by Sunderland fans which is trying to buy the club is being backed in significant part by cash from the United States.

A report emerged on Monday claiming that television executives Leo Pearlman, Gabe Turner and Ben Turner - owners of Fulwell 73 Productions - are hoping to challenge a German consortium to buy out current owner Ellis Short.

However, Press Association Sport understands that much of the group's funding would come from America.

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, who appears to be ready to do business after a bruising spell at the Stadium of Light.

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.

Sunderland were relegated from the Premier League at the end of last season, made a loss after tax of £33million for the financial year to July 31, 2016, and has a net debt of £110.4million.

Former manager David Moyes parted company with the club last month after discussing his blueprint for the way forward and Aberdeen boss Derek McInnes rejected the opportunity to replace him last week once he had learned of the ongoing discussions over a possible sale.

The club remains in a state of flux with the squad, which will need substantial rebuilding, due back for pre-season training on June 29, and the fixtures for the new Sky Bet Championship season - which gets under way on August 4 - are due to be announced on Wednesday.

More in this Section

Gosling nets late winner as Bournemouth end losing streak with Chelsea scalpGosling nets late winner as Bournemouth end losing streak with Chelsea scalp

Stubborn Norwich stop in-form Leicester from extending winning streakStubborn Norwich stop in-form Leicester from extending winning streak

Fleck hits the spot as Sheffield United see off Aston VillaFleck hits the spot as Sheffield United see off Aston Villa

Wood on target for Burnley against patched-up NewcastleWood on target for Burnley against patched-up Newcastle


Lifestyle

Dr. Altona Myers is a dental surgeon and member of the International Academy of Facial Aesthetics. Her clinic, FacialRejuve is a modern, friendly, doctor owned and operated aesthetic clinic specialising in Facial Rejuvenation, located in Stillorgan, Co Dublin.School Daze: The power of education

How much of what we think we know about Christmas pudding is actually true? Robert Hume explodes the myths about our festive treatDebunking all the myths about plum pudding

Her character in Dallas may have shot JR Ewing, but Mary Crosby will always be known as the daughter of the man who sang ‘White Christmas’, writes Ed Power.'I stayed in Castleisland with the Buckley family': Mary Crosby on life as Bing's daughter

The shop sells books, music accessories and crafts and also has a café.We Sell Books: Why the personal touch makes all the difference

More From The Irish Examiner