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Quinn suggests English Sunderland takeover near completion
England - 21 June, 2006
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Niall Quinn insisted the proposed takeover of English Sunderland is on course, and could be completed within the next few days.
Reports surfaced that four key investors in Quinn’s eight-man consortium – Sean Mulryan, Paddy Kelly, Tom Moran and Pat Power – had withdrawn their support. But Quinn says that is not the case, and hopes talks with outgoing chairman Bob Murray can soon end the talks.
Mulryan has a personal fortune of GBP 234 million while Kelly and Moran are worth an estimated total of GBP 111 million.
“Basically, I'm meeting Bob Murray and I'm hoping to close out a deal for the football club,” Quinn said. “I’m very disappointed with the reports which have come out suggesting there are problems with our side. I’ve kept very quiet in the last 12 weeks and have done what I was told to do in terms of confidentiality agreements.
“We are very committed and we are raring to go – we just need to get one more answer now. We’ve delivered and we’ll see what the answer is.”
Quinn has worked all summer on putting together a deal to buy out majority shareholder Murray, who promised last week that he will stand down on June 30. The eight-strong group was assembled earlier this month and talks seemed to be progressing slowly but surely.
The deal could amount to around GBP 16 million for a club that was relegated from the Premier League with a record-low 15 points. Also inherited would be debts totalling up to GBP 40 million.
Quinn, who made 220 appearances and scored 69 goals for Sunderland before injury forced him to retire, added, “I like to think people trust what I might bring to the table might be good. And I’m hopeful … we can do that.”
Reports surfaced that four key investors in Quinn’s eight-man consortium – Sean Mulryan, Paddy Kelly, Tom Moran and Pat Power – had withdrawn their support. But Quinn says that is not the case, and hopes talks with outgoing chairman Bob Murray can soon end the talks.
Mulryan has a personal fortune of GBP 234 million while Kelly and Moran are worth an estimated total of GBP 111 million.
“Basically, I'm meeting Bob Murray and I'm hoping to close out a deal for the football club,” Quinn said. “I’m very disappointed with the reports which have come out suggesting there are problems with our side. I’ve kept very quiet in the last 12 weeks and have done what I was told to do in terms of confidentiality agreements.
“We are very committed and we are raring to go – we just need to get one more answer now. We’ve delivered and we’ll see what the answer is.”
Quinn has worked all summer on putting together a deal to buy out majority shareholder Murray, who promised last week that he will stand down on June 30. The eight-strong group was assembled earlier this month and talks seemed to be progressing slowly but surely.
The deal could amount to around GBP 16 million for a club that was relegated from the Premier League with a record-low 15 points. Also inherited would be debts totalling up to GBP 40 million.
Quinn, who made 220 appearances and scored 69 goals for Sunderland before injury forced him to retire, added, “I like to think people trust what I might bring to the table might be good. And I’m hopeful … we can do that.”
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