Sunderland chief issues takeover update at Stadium of Light

Jim Rodwell has said that Sunderland are still in a period of exclusivity with a potential buyer.

Sunday, 25th October 2020, 11:57 am

The Black Cats CEO told the Sunderland club podcast, #SAFCUnfiltered that the process was progressing well, but had gone on longer than anticipated due to the uncertainty around the COVID-19 pandemic.

“We are currently in a period of exclusivity,” Rodwell said.

"I think things have gone on longer than anyone would have liked, predominantly due to COVID and the uncertainty caused by COVID.

Stewart Donald is in talks to sell the club

"The party that we're in exclusivity with have shown us proof of funds - and they're the only people to actually do so. Lots of people are all over the internet claiming they're close to buying the football club, but only one party has ever shown us proof of funds and given us a credible plan to take the football club forward - and that's the party that we're currently in exclusivity with.

"They've been uber-professional throughout the period but the simple fact remains - we are in a COVID world. We haven't got fans in the stadium, we haven't got a bailout at the moment and it's making matters very difficult. Until we get some kind of certainty from probably government, these matters are going to progress I guess.”

Rodwell said he could not comment on claims from energy-drink businessman William Storey, who has repeatedly claimed on social media that he is close to concluding a takeover.

However, he did say that ‘generally’, ‘many’ parties had spoken publicly about a bid and that none had provided proof of funds.