Murray urges Sunderland shareholders to sell up

FORMER Sunderland chairman Bob Murray has urged the club’s small shareholders to sell their stakes in the club to Niall Quinn.

Quinn announced on Monday that he and the seven remaining members of his consortium had formally launched their £10m takeover bid. They have so far reached agreements to buy Murray’s 56.8% holding, as well as those shares owned by former boss Peter Reid and vice-chairman, giving them a total of 72.59%. However, the offer — at 117p per share — is conditional upon achieving a 90% stake which would allow them to assume total control.

Quinn has urged the remaining shareholders to help him fulfil his vision and, in a letter which will be included in the offer document when it is sent out later this week, Murray has added his backing.

Murray said: “I believe that the time is right for someone to again kick-start the club and move it to the next level, and I recognise that new investment is needed to do that. I have given the club fresh impetus in my time, but it needs to be done again.

“It has been a huge decision for me to pass on the controlling interest of the club. It has been a long and arduous process but, after 22 years, it was more important that we did everything correctly for the club, rather than cut corners in haste.

“Niall Quinn has always been my preferred successor because he knows the club and what makes the club and the people of the city tick. He understands what is important to people here.

“After hearing Niall’s ambitious plans for the future, and having met all the members of the consortium, I feel confident that they will give Niall their full backing. They want what is best for the club and are ready to invest what is needed to make the club a success on the pitch.

“That’s a big tick in the box for me and I would therefore urge you to support Niall.”