Stewart Donald has disclosed that he is attempting to sell his Sunderland shares as soon as possible and has broken his silence on the matter.
Data released this month indicated that even after selling the majority of his shares to current owner Kyril Louis-Dreyfus last year, Donald retained a 34% ownership position in the League One team. Charlie Methven owns 5% of the company, while Juan Sartori owns 20%.
The group currently owns a larger portion of the club than Louis-Dreyfus does, with their firm filing under the name Madrox.
When the numbers were disclosed at a recent supporters’ gathering, Sunderland supporters expressed their outrage. Madrox Out was the banner that supporters at the DW Stadium carried during their 3-0 victory over Wigan Athletic over the weekend.
After the public transfer of ownership to Louis-Dreyfus, the lack of transparency in ownership has left the supporters with a bad taste.
Although most Sunderland fans don’t want Madrox to be involved in any way, Donald acknowledges that he would buy the team again and that he will always regret not being able to get them promoted back to the Championship.
“It’s been an amazing educational journey for me,” Donald stated to BBC Radio Solent.
“I was aware that going there would be difficult. I doubt that I had quite enough money to do all that I believed a football fan would want to do while there.
“I gave it my all with it. We almost got them up a few times when I tried to get them up. We were, I believe, three or four points off of the promotion spots in our first year when we were defeated by a goal that was, in my opinion, a foul in the final seconds.
After we came close, we switched management. Then, I believe we were three or four points away from receiving an automatic promotion once more, but we chose not to. You can’t fail at a club like Sunderland. The supporters are entitled to a better caliber of football; after all, they have become accustomed to it.
“I was surprised when I went up there, and their support is simply unmatched. It was an amazing experience, and I had no idea how passionate the place was. It’s been difficult, but as a football fan, being around that club and its supporters has been an incredible experience that I would gladly repeat.
“It hurts that I couldn’t give them the promotion they so much desired and deserved, but at the same time, it wasn’t the ideal situation. I will always regret it. When I arrived, I discovered that there were many deeper-seated problems that I had successfully resolved behind the scenes for the club to bring them to stability.
“After that, we move on, and Kyril (Louis-Dreyfus) enters and assumes leadership of the team.”
Now that the public is aware of Donald’s ownership stake in the team, the fan base, which is fervently hoping for their team to win promotion this season, has expressed disapproval. The Black Cats are currently ranked sixth in League One.
As he attempts to sell his stake in the team, Donald is fully aware that the feelings towards Madrox haven’t altered.
Donald went on, “I sold to lower my known shareholding.” I was down to 34% after that. That agreement was completed, even though I don’t think it’s particularly secret that it was at a higher level than I had anticipated. That seemed like the best arrangement for the football club.
At the top, there was a desire for change. I believe the Sunderland supporters made the finest decision out of all those that expressed interest. Since I’ve gone from being in the majority to the minority, it was always going to present a problem for me. Selling a portion of a football team that isn’t in your control always makes deals a little bit more difficult.
However, ever since I sold it, it was evident from the mood music that I really shouldn’t be attending the games, so I’ve been trying to gradually lower that shareholding and maybe that will be organized by the summer. Kyril had assumed command, now that he has it, he must strengthen his bond with the Sunderland fans. It would not have benefited me to be present or involved.
“That’s fair enough, but as far as Kenny (Amor) knew, he got in touch with me as soon as he found out I was selling a shareholding to see if anyone would be interested in returning,” he stated. I clarified that I was left with an excessive amount of shares and that I would try to lower it as soon as possible.
“We agreed to stay in contact, and now that the public is aware of my level of ownership, it’s evident that, even though I don’t attend the games and instead write the checks, some people find it more preferable if I don’t own a percentage. In my opinion, it would be really nice to own a portion of Sunderland and attend the games and
appreciate it, but not if it hurts the club.
“In my opinion, it is best to delegate this task to the appropriate individuals so that I can focus on other football-related endeavors while still going to watch football games.”
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