Sunderland will begin life in English footballs third tier under new ownership after it was confirmed that the Black Cats have been sold to an international consortium headed by the chairman of non-league Eastleigh, Stewart Donald.
The first casualty of the takeover, which requires ratification by the Football League, is former Wales manager Chris Coleman, who was axed moments before the club announced details of the sale.
Confirmation of the deal brings to an end the turbulent, decade-long ownership of American businessman Ellis Short, which has culminated in the north-east outfit dropping from the Premier League to third tier in the last year.
“It is no secret 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,” read a statement from Short.
“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.”
Coleman, meanwhile, who was appointed Black Cats manager in November, had appeared determined to stay at Sunderland despite relegation to League One for only the second time in the clubs history.
Sunderland will begin life in English footballs third tier under new ownership after it was confirmed that the Black Cats have been sold to an international consortium headed by the chairman of non-league Eastleigh, Stewart Donald.
The first casualty of the takeover, which requires ratification by the Football League, is former Wales manager Chris Coleman, who was axed moments before the club announced details of the sale.
Confirmation of the deal brings to an end the turbulent, decade-long ownership of American businessman Ellis Short, which has culminated in the north-east outfit dropping from the Premier League to third tier in the last year.
“It is no secret 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,” read a statement from Short.
“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.”
Coleman, meanwhile, who was appointed Black Cats manager in November, had appeared determined to stay at Sunderland despite relegation to League One for only the second time in the clubs history.
