North East UK news US investor Matthew Pauls weighing up a takeover bid for Sunderland MetiNews.Com
MetiNews.Com - Sunderland remain in advanced talks with frontrunners Juan Sartori and Kyril Louis-Dreyfus, but another interested party has emerged
Breaking News ! Sunderland is attracting interest from America with investor Matthew Pauls reportedly monitoring the takeover situation - but Juan Sartori and Kyril Louis-Dreyfus remain in pole position to complete a deal. Financier Pauls is thought to be working on a bid with another investor from Washington DC, and a representative of the duo visited Wearside in the summer and was shown around the Stadium of Light and Academy of Light. Read More Related Articles Takeover or no takeover? What would a Kyril Louis-Dreyfus and Juan Sartori consortium mean for Sunderland But while Pauls has shown interest in buying the club, Black Cats chief executive Jim Rodwell confirmed earlier this month that the club is in a 'period of exclusivity' with a preferred bidder - thought to be the Sartori/Louis-Dreyfus combination. Current owner Stewart Donald is preparing to sell most of his 75 percent majority shareholding in Sunderland, with French billionaire Louis-Dreyfus expected to buy into the club. Sartori already owns 20 percent of the club and could also increase his holding as part of the deal. Reports have suggested that Donald would retain 15 per cent, while Charlie Methven would keep his five per cent share.
. But if there are any problems and that deal falls through, that could offer a chance for Pauls' team to step in.
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They would would then need to enter into their own period of exclusivity and conduct due diligence, which can be a lengthy process. And, like Sartori and Louis-Dreyfus, if Pauls went forward with a bid it would involve Donald keeping a stake in the club. For now, however, Sartori and Louis-Dreyfus have the advantage and their bid is at a much more advanced stage.
Source = MetiNews.Com