Sunderland's takeover is still weeks away

Niall Quinn’s proposed takeover of English Sunderland still is, at a minimum, weeks away from coming to fruition.
 
The Irish consortium planning to buy out main shareholder and chairman Bob Murray are still engaged in legal processes after confirming interest in Sunderland at the end of April.
 
Indications are that a formal offer for Murray’s stake and the remaining shares will take several weeks yet.
 
The offer, which could amount to approximately GBP 16million, was made this week. Rules state that shareholders are given 21 days to accept or decline.
 
Sunderland are required to abide by stock regulations for 10 years despite de-listing a while ago, and it means neither party can comment on the situation while it is ongoing.
 
Murray has admitted he is ready to hand over control after almost 20 years, with the club’s fans having demanded a change in the boardroom during and after last season’s disastrous Premier League season.
 
Supporters protested on at the Stadium of Light many times last season, with many blaming Murray rather than manager Mick McCarthy, whom Murray sacked in March as relegation became nearly certain.
 
Former player Quinn was welcomed as a hero when he arrived at the stadium ahead of the 1 May match against Arsenal, his former club, three days after Sunderland confirmed talks with the consortium.
 
The 39-year-old Quinn, who made 220 appearances and scored 69 goals before injury forced him to retire, is now being viewed as a club’s saviour.
 
Relegation to the Championship with a record-low point total of 15 embarrassed the club which, during its heyday, twice finished seventh in the top flight.
 
Speculation has been rife as to the identity of his partners, with the names of several multi-millionaires popping up as potential consortium members.
 
In addition, Martin O'Neill’s continuing availability continues to add speculation that he could be Quinn’s man for the manager’s job.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.