Former Sunderland star Michael Gray has admitted that he has tried to help interested parties in taking over the Black Cats. Gray also advised that he may not be done with entering talks with current owner Stewart Donald.
Gray, who made 363 appearances for his home-town club and is now a pundit, admitted on the British Football Podcast that he had tried twice in the past to help with a takeover. The former Sunderland full-back and supporter, like all fans, wants to help the club get back to where they believe they belong.
Michael Gray Keen on Being a Part of a Takeover at Sunderland
Michael Gray, Alongside Two Consortiums, Has Tried a Takeover Bid
Speaking to the British Football Podcast, Gray advised that he has twice attempted to help two consortiums with bids to take over the Black Cats. However, he did admit that he was not putting any of his own money into the bids:
“It’s not with my funds, but I’ve been to the club on two occasions with two consortiums to try and buy the club,” he revealed.
Attempt One
Gray and a consortium interested in the club first attempted a takeover when previous owner Ellis Short was trying to sell the club:
“We got so far and then it came down to the due diligence, and they weren’t – shall we say nice enough – to give us the paperwork to see what was going on behind the scenes figure wise etc. That was the end of it and we walked away.”
“When Ellis Short was selling the club we went initially to try and have a look at the figures and that didn’t come to anything. Basically, he didn’t want to sit face-to-face with the consortium and didn’t want to thrash things out. I think he already had something in place with the owner now, so that went on the back-burner a little bit.”
Attempt Two
Current owner Stewart Donald is currently in the process of attempting to find a buyer for the Wearside club. Gray has advised that contact has been made but it has been a frustrating time:
“Now that Stewart Donald, the present chairman, is trying to sell the club – we’ve had certain amounts of figures but it’s kind of hitting a brick wall.”
“We get so far and then we kind of bounce back off the wall a little bit. That’s a little bit frustrating because it’s my club, the club that I love, and I would try and do everything that I possibly could to get the club to where it should be.”
Possible Third Attempt?
Gray and the consortiums he is involved with are not ruling out going back to Sunderland and Stewart Donald and trying again. However, after seemingly getting little encouragement previously, a third attempt, although not out of the question, does not appear to be forthcoming soon.
“You never close the door shut. You have to keep your options open and I have had conversations with the consortiums. How far down the line with a third bid is probably further away than we were with the first ones, but the door is still ajar.”
Stewart Donald Must Continue With His Efforts to Sell
Current Sunderland owner Stewart Donald has the club up for sale. Fans, looking at a third consecutive season in League One, want change. Change that will help the club return to the Championship and then hopefully the Premier League where a club the size of Sunderland belong.
Due to the uncertainty in the country and the world due to the Coronavirus pandemic and also of when next season will begin, takeover talks have understandably not advanced as quickly as they may normally.
Donald has set his asking price for the club; however, he may need to be flexible on his price if he wishes a sale to go through sooner rather than later. With Donald wanting out and many fans wanting him out, the sooner a deal can be agreed with an interested party the better for all concerned.
The last thing the club will want is for the new season to be on the horizon and huge uncertainty still be hanging over them. Sunderland must push for promotion next season or there is a real chance that they could become a permanent fixture in England’s lower leagues.
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