Sunderland takeover looks on track as new details emerge
Mark Campbell’s plans to become majority shareholder at Sunderland remain on course with the deal expected to go through by the end of next week.
Campbell is an Englishman, not American, and he has business interests in the UK and New York.
A date of June 19 had been reported for the Campbell-led consortium to come on board at the Stadium of Light but the Echo understands it is likely to be later next week.
The Echo can also reveal that Campbell’s background is in real estate, not in the stock market, as reported elsewhere.
The Campbell-led consortium of English businessmen is set to become the majority shareholder at Sunderland, but current chairman Stewart Donald will retain a place on the board with a significant stake and still play a big role moving forward next season.
Uruguayan investor Juan Sartori and Charlie Methven will also remain as shareholders, with the new consortium set to take somewhere between 54 and 74 per cent.
Due diligence has been completed though any change in the majority shareholder status is subject to the EFL approval process, though there is confidence a deal will be completed by next week.
As previously reported Jack Ross will remain in charge even if there is a change in ownership and as the Echo reported earlier this summer, if the new consortium gains control then ex-Celtic scout John Park is set to arrive as director of football.
Sunderland executive director Methven had previously said he expected some clarity on the situation before the end of the month.
The Sunderland squad and coaching staff are currently taking a break following a 61-game season that ended in the League One play-off final defeat to Charlton Athletic.
Donald, Methven and Sartori took charge of Sunderland last summer after they bought the club from former owner Ellis Short in a deal worth around £40million.
Ross was appointed manager shortly after and he will be given scope to revamp the squad this season ahead of a promotion push second time round following the disappointment of last season.