Dell Money Managers Said in Talks to Take Over Sunderland AFC
Dell Money Managers Said in Talks to Take Over Sunderland AFC
(Bloomberg) -- Three MSD Partners executives who manage investments for computer billionaire Michael Dell are in talks to buy Sunderland AFC, the soccer club languishing two divisions below England’s money-spinning Premier League, people with knowledge of the matter said.
Glenn Fuhrman, John Phelan and Robert Platek are in discussions with the team’s current owner Stewart Donald, according to the people. No price has yet been agreed, and any transaction would be subject to the approval of the English Football League, the people said, who asked not to be identified because the information is private.
Donald and his partner, Charlie Methven, would remain integral to the club’s operations under any takeover plan, the people said. Since coming in last April, they’ve stabilized the club and energized its fan base, though their efforts last year weren’t rewarded by promotion to the second tier in the league, as Sunderland narrowly lost a playoff final.
Sunderland, known as the “Black Cats,” was formed in 1879 and in its history boasts six league titles and two FA Cups. It lies in the soccer hotbed of England’s industrial northeast, adjacent to Newcastle, its big rival as a city and in sports. The struggles of the team, which plays at the 49,000-capacity Stadium of Light, were captured in a Netflix documentary series.
Despite missing out on promotion last season, Sunderland’s fan base remains committed. Donald recently announced via a tweet that season-ticket sales had reached 24,000, a little higher than last year.
Donald, a British insurance executive, has been searching for a buyer for the club for several months. The Sunderland Echo reported some details of the bid on Thursday, without saying where it got the information.
--With assistance from James Amott.
To contact the reporter on this story: David Hellier in London at dhellier@bloomberg.net
To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net, ;Andrew Davis at abdavis@bloomberg.net, James Amott, Ben Scent
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