Coleman sacrificed as Short clears Cats debt then clears out
ALL CHANGE AT SUNDERLAND AFTER SALE
CHRIS Coleman became the first casualty of the new regime on Wearside, with his departure announced minutes before news of Stewart Donald’s takeover was announced.
And the new owner’s first task will be to appoint the club’s ninth permanent manager in the space of five years and one month.
The Black Cats released a statement shortly before 1pm saying that Coleman and his assistant Kit Symons had been “released from their contracts”.
The statement went on to say: “The club would like to place on record its sincere thanks to Chris and Kit for their tireless efforts in what has been a hugely disappointing season for everyone involved with the club.
“The club is unable to make further comment at this time.”
And the reason why they were unable to say more soon became apparent, with a further statement coming just after 1pm confirming Ellis Short had agreed to sell the club to a consortium of international football investors fronted by Eastleigh chairman Donald.
The implication is that Donald and his group want to appoint their own man. It is not clear whether Coleman and Symons received a pay-off for the remainder of their contracts, which ran until 2020, but Coleman had said on Friday that although there was no break clause in his deal, he was willing to “make sacrifices” if the club wanted to bring in someone else.
Coleman left his post as Wales manager to succeed Simon Grayson in November with the club already deep in relegation trouble, having won only one of 17 league games before he arrived.
Under Coleman’s tenure, Sunderland won five out of 28 league games but it was not enough and the Black Cats’ relegation to League One was confirmed last weekend.
It completed a precipitous decline, which involved back-to-back relegations.
Coleman’s January signings came under severe scrutiny, with the four loan additions he brought in – Jake Clarke-Salter, Ashley Fletcher, Ovie Ejaria, and Lee Camp – all underperforming, while Kazenga LuaLua, who joined on a free transfer, has barely played due to injury.
In Coleman’s defence, he was given no budget to sign players in the transfer window, and had to bring in whoever was available.
Ellis Short has confirmed he will pay off the club’s debts – which are understood to be in excess of £110m – which means writing off his own investment, and clearing the club’s bank loan. The statement read: “Ellis Short, owner of Sunderland AFC, has agreed to sell the club to an international consortium of football investors. “The deal, which is subject only to English Football League approval, will see ownership pass to a group led by Stewart Donald, chairman of Eastleigh FC. “Announcing the news, Ellis Short said ‘It is no secret that I have been trying to sell Sunderland, but I have waited until the right group came along that have the experience, finances, and plan to take this great club back to where it deserves to be. “Overall, my chairmanship has not gone the way I would have wished; the many high points of a decade in the Premier League have been overshadowed by the low points of the last two terrible seasons. “I was therefore determined to ensure I leave Sunderland in the best possible hands and the best possible state to turn the corner. “‘To achieve this, higher offers from less-qualified buyers were rejected,
Higher offers from less-qualified buyers were rejected, and I have paid off all debts owed by the club Ellis Short
and I have paid off all debts owed by the club to leave it financially strong and debt-free for the first time since years before I owned it.
“Assuming that Stewart and his group win EFL approval, it only remains for me to wish them, and all associated with the club, the very best for the future.
“I will be a Sunderland fan for life, and hope to return as a fan to watch them climb back to where they belong.’”
The statement continued: “Donald, who will now relinquish control of Eastleigh, said: ‘All of us involved in this bid believe Sunderland represents an extraordinary opportunity.
“‘Our group have all been involved in the building – or re-building – football clubs to reach their potential and we believe that over the last decade we have acquired the necessary skillsets to overcome the huge challenges that will face us at this huge club.’
“Aside from his association with Eastleigh, Donald has also been a key behind-the-scenes presence at Oxford United in that club’s revival over the last 10 years, as an investor, shirt sponsor and supporters’ trust committee member.
“He added: ‘Eastleigh and Oxford are different cases to each other and, of course, smaller than Sunderland.
“The similarity, though, is that there is also a lot that needs to be addressed here, and it needs to be addressed with realism, focus and dedication.
“For a club with one of the best fanbases, stadium and academies in the UK to find itself in League One is unacceptable.
“We have a carefully thoughtthrough plan to restructure the club, make it sustainable and, with the help of the fans, to restore its sense of pride and re-connect it with the local community.
“In short, we are rolling our sleeves up to do what needs to be done to ready this club to start competing again.’”
“Out of respect for the EFL process, neither Sunderland AFC, Ellis Short nor Stewart Donald will be making any further comment on the sale of the club until approval is granted.”