Two external parties in talks with Stewart Donald and Charlie Methven to buy Sunderland shares
Stewart Donald and Charlie Methven are in discussions to sell their shares in Sunderland to a cryptocurrency group named The Fans Together.
While Donald and Methven are no longer on the board of directors at the Championship club, the pair still own a combined 39 per cent stake, despite being unpopular with supporters.
Methven has previously said that himself and Donald are prepared to sell their combined shares for £11.7 million (equal to a club valuation of £30 million).
It has since been reported that Donald and Methven are in talks with two external parties to sell their shares.
According to The Athletic, members of the group The Fans Together (TFT) were guests in the boardroom for the first leg of Sunderland’s play-off semi-final against Sheffield Wednesday at the Stadium of Light, when they agreed a fee with Donald and Methven.
A spokesperson for the group told the Athletic: “The Fans Together, an organisation dedicated to bringing large scale widespread fan ownership to reality, confirms it is in discussions with Stewart Donald and Charlie Methven to acquire all of their 39 per cent stake in Sunderland AFC.
“In Sunderland, we have deliberately chosen a club with a large fan base that is in a sound financial state and we are keen to work with existing shareholders to continue to build on the momentum achieved through the recent promotion to the Championship.
“While discussions are ongoing, we are unable to provide further information at this moment in time, however we will update fans and wider stakeholders as soon as possible.”
Methven was also quoted in the same article, adding: “We are currently actively engaged with two external parties, both of whom have submitted acceptable offers, and now it is simply a question of which of them, or indeed anyone else, can get the deal done quickest,”
“The chairman of Sunderland AFC has asked that the sale of our shares be completed before the start of next season if at all possible, which we entirely agree with, but ultimately that is now in the hands of the bidders and their lawyers.”