Short’s house clearance…
ELLIS SHORT is ready to sell Sunderland for virtually the same price as his house.
Owner Short is slashing his asking price for the struggling Championship outfit to little more than the £57million his luxury West London pad is on the market for.
The American businessman has been looking for a way out of Sunderland for the past two years and thought he had found a buyer in June. But talks with two parties broke down while a Middle East consortium cooled their interest after seeing the books.
Sunderland’s latest accounts, released six months ago, revealed a club £110m in debt.
Despite relegation and dwindling crowds, that figure has been significantly reduced following a series of cost-cutting measures.
In June when Simon Grayson was unveiled as the Black Cats’ latest manager, chief executive Martin Bain said the club was no longer for sale. But now talks have opened between Short’s representatives and brokers.
And the brokers have been told the new price for Sunderland could be as little as half the £120m he was looking for just four months ago.