What the formation of FPP Sunderland Ltd means for the club's takeover
Sunderland AFC’s takeover by an American consortium has taken a big step to towards completion – after a new company was formed to facilitate the deal.
John Phelan, Glenn Fuhrman and Robert Platek are set to obtain a majority stake in the Black Cats in the near future – with talks having been held behind the scenes over recent weeks as a deal was constructed.
The American trio – who will be joined by computer tycoon Michael Dell, who will hold a minority share – attended Sunderland’s win over AFC Wimbledon last months as a deal neared.
And the takeover has taken a step towards completion after a new company, titled ‘FPP Sunderland Limited’, was registered with Companies House.
Phelan, Fuhrman and Platek are the three directors of the new company, which was registered in Delaware, USA on Monday, September 16.
The companies registered address is that of the Stadium of Light, and it is likely that this new company will be used as a vessel through which to purchase the club.
Similar was seen when Stewart Donald took control of the club, as he formed a similar company – Madrox – to seal the takeover.
Indeed, the formation of such a company usually indicates that talks over a purchase have reached an advanced stage and are expected to be completed imminently.
Phelan and Fuhrman are both billionaires in their own right, with Platek also holding some significant personal wealth.