Post by spiritofeastleigh on May 11, 2020 9:04:21 GMT
The papers are trying to make him look bad in how he bought Sunderland, using parachute payments to the club. However none of that is illegal and the club are debt free, he has said the money will be repaid in full, possibly as a gift. That will probably allow him a tax rebate in other area's of his businesses under the group heading company he owns that oversee said businesses, this is nothing but sensible business which is all legal and above board. When he does walk away from Sunderland he will at least have left it in a better financial position than it was when he took over, though obviously he'd have liked to have gotten them up at least to Championship football in his time as owner as well. Stewart Donald has done a lot of good things with his money, most of which goes unreported and the papers are trying to find a story that just isn't there and attempt to make him a bad guy. As far as I am concerned he will always be a TOP MAN and I'm proud to call him a friend.
I also thought he sounded absolutely A OK. Hill and Reid have left the club this summer.
I have to confess to not being able to understand the numbers he was mentioning and who has paid what to who and how much anyone owes to anyone else. Perhaps that's just me but I couldn't really grasp the basic facts from the various statements which Stewart made. Re the recent departures I think Paul Reid left a while ago and of course Ray Murphy has since been appointed as his replacement. From what I have read in the last couple of days I believe that Richard Hill and Tony Coton have just left the club this week. Re Stewart's resignation as chairman, it's not unusual for a club owner to appoint someone else as club chairman. His comments of reassurance about the budget which will be available for next season seem to suggest that he is still making the key decisions.
Reid was still there at the end of the season and was in charge of their Academy, so nothing to do with Murphy, who has gone in as Club Secretary.
Reid was a big target for the fans in recent weeks because between the U18s and the Development squad (u23), which they seem to think he was also overall responsibility for, the two sides had lost every single game all season except one draw the U18s got. So the fans were claiming the set up had been destroyed with 1 point all season from around 50+ games between the two.
Fair to play Murphy making the step from Secretary at Swindon to Academy Manager at Sunderland 😁
Reid couldn't win, was running a Cat1 Academy but at League 1 budget and level playing against Cat1 clubs in Prem. £500 quid a week lads v £20k a week lads not sure how anyone could get 11 lads to compete against that level.
SD wants £37million for the club so him resigning today as Chairman changes nothing with regards to him owning the club.