Sunderland takeover saga twist as bidder makes £45m claim

William Storey is a name that just won't go away when it comes to the Sunderland takeover, despite it being understood he is not seen as a credible option by the current owners.

Wednesday, 2nd December 2020, 4:44 pm
Rich Energy CEO William Storey.

That hasn't deterred the Rich Energy CEO from again visiting the North East, during which he has outlined details of his £45million offer, his second attempt to buy Sunderland.

Stewart Donald looks set to sell a majority stake to Juan Sartori and Kyril Louis-Dreyfus, which would see the duo take a shareholding of 79 per cent.

That deal is understood to be close to completion yet Storey continues to press his claims.

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This week ahead of the Burton match he made another Wearside visit.

Speaking on BBC Look North, Storey said: "I'm trying to get this deal done for me and my group to take over Sunderland. It's a massive, massive opportunity - it's a wonderful club with incredible fans.

"We've bid £45million for Sunderland football club.

"A formal, legal offer. Our first bid was on 16th July and we've done a new bid on 19th November which was submitted by my lawyers in London.

"That's £45million including £15million of immediate working capital for the club.

"Clearly there needs to be investment on the pitch and there needs to be significant improvements across the club."

On the Sartori/Louis-Dreyfus bid, Storey commented: "They're talking about putting in £20million for a share redistribution which is in effect, all of the current shareholders and directors remain at the club and there's an issuance of shares and a new investor.

"So the current shareholders dilute and Sartori's backers come in. But in essence, nothing changes.

"The other difference is I've got five Premier League players lined-up on loan, I've got a world class sports company from London involved, I've got a massive backing from one of the richest men in Singapore and I've got one of the richest men in Ireland involved as well.

"We have got football people, who love Sunderland - most of the people involved in my bid are actually Sunderland fans and this isn't an investment for them. it's a passion project.

"Stewart Donald said he would sell the club and he's had an offer from me, fully-funded with proof of funds, since 16th July - and I'm still not the owner."