Cats need cash... not scarf-waving
WHAT attracted a bunch of Us-based speculators to land in Sunderland and buy the football club?
Their love of the North-east seaside town? They’d always watched the red and whites in League One, and loved the playing style of Jack Ross?
Of course not. The brains from MSD Partners, John Phelan, Glenn Fuhrman and Rob Platek, see profit.
Sunderland, with it’s fan-base, stadium and academy, represent a bargain buy for anyone wanting to take a punt on reviving a club.
I hope MSD spare us any emotional plastic-fan, scarf-waving nonsense when they complete their deal.
For once, tell it how it really is when money men – they are said to be worth billions - spot a cheap, under-funded asset and pounce.
It isn’t about creating joy in a community, and seeing the Stadium of Light pulse with noise, although that will hopefully be the outcome. It is about turning a £40million punt into a £200m revived business.
Just admit it. Of course Sunderland fans will benefit if the trio make sensible injections of cash, work their way out of League One, kick on in the Championship and within a year or two end up in the Premier
League again.
That ending would quadruple, or more, their initial investment.
Sunderland fans initially excited that the world’s 25th richest man, Michael Dell the computer billionaire, could be at the helm and bankrolling the future, soon discovered he’ll be a backseat investor. Even so, the club needs access to cash to progress.
There are many unanswered questions over the takeover deal, which could be done by the end of September.
How much are they paying? How much cash will be injected? Are they men in a hurry or taking a longer-term view? How much profit will current owner Stewart Donald pocket?
If they want the trust of Sunderland fans they should be open about their plans and finances.
And honest about the motives.