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Saturday, April 29, 2006

Quinn/Murray talks

Murray reveals talks with Quinn

Embattled Sunderland AFC Chairman Bob Murray has revealed that he has been in secret talks with Niall Quinn over the past nine months, with the aim of enabling the genial Irishman, who has attained almost cult status amongst club supporters, to take over the controlling interest of the club. The deal will initially be much less than the rumoured 80 million pounds touted in the last few weeks, Quinn and his Irish financiers will be allowed a smooth takeover with Murray being offered the position of Life President of the once great club.

These men will be interested in making a profit from their investment, and with "big" Niall Quinn as their figurehead they have someone who is as equally passionate about Sunderland AFC as Bob Murray has been over the past twenty years. Their profit will come from an expected growth in revenues as the club attempts to turn the tables on a very poor season, a strengthened squad capable of living in the Premiership long term, and a planned extension to the stadium's capacity. It is also understood that former manager Mick McCarthy has been back at the Stadium of Light over the past week to meet Quinn and help him appraise the strengths and weaknesses of the current playing staff. Caretaker manager Kevin Ball has also postponed planned releases of some of the club's junior players in a move also seen as preparing the business for a new management team.

Fans had been planning to hold a "St. Niall Quinn" day at the home game against Arsenal on Monday when they were hoping that thousands would turn out dressed in red, white, and green. Quinn, who gave away all of the money from his testimonial match to children's charities, requested the fans to postpone such a "celebration" as talks were still continuing and an official announcement had not at that stage been given to the Stock Exchange. Whilst Murray acknowledges that other potential investors are still hovering in the background, he is making clear that the Quinn led bid get's his vote.

SAFC's statement to the Stock Exchange

Further to the announcement on 28 March 2006 by Bob Murray, chairman and controlling shareholder of the Company, stating he would be willing to consider a change of control of the Company, the Board of Sunderland Limited confirms that it is in discussions with a consortium of private investors, led by Niall Quinn, that may or may not lead to an offer for the Company being made.

Zeus Capital has been appointed as independent financial adviser to the Company in order to represent the interests of all shareholders in relation to this proposal.

Shareholders will be kept informed of further developments.

The club has already sold 42,000 seats for Monday's game, and with the news that Quinn will be attending as Murrays guest, it is possible that the Stadium of Light could once again host a sell out crowd. If the planned takeover goes smoothly then success might come over the next couple of seasons and huge crowds could return to an enlarged Stadium of Light as Sunderland look to regain premiership status on a much longer term basis, this is the glimmer of light at the end of the tunnel for the thousands of fans who have suffered such a miserable season.

Link

The Sunderland Echo

# posted by Curly : 6:14 pm

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