Stewart Donald is said to be seeking £40m to sell Sunderland according to US outlet Bloomberg, who claim discussions have been held between them and his partners.
Bloomberg suggests that Donald has been having conversations with two potential suitors over the acquisition of Sunderland.
The club’s hierarchy are searching for £40m in order to sanction a sale and are hoping to find a buyer by the end of the month.
Per the report, Sunderland’s backers think the asset could be worth as much as £250m in the future providing the Black Cats make it back to the promised land of the Premier League.
It was also noted that there was no certainty that current negotiations will lead to an agreement.
Whether Donald eventually follows through on his promise to sell the club remains to be seen but it’s already been a lengthy battle between him and the supporters.
Sunderland’s fanbase have been quick to criticise the owner in the past with results at the time of a club statement last month falling way below the standard – only five of Phil Parkinson’s 17 matches in charge had ended in victory.
The Mackems struggled under Parkinson for a considerable period but before losing to Portsmouth last weekend, had gone nine games unbeaten.
There is greater positivity surrounding the Stadium of Light and if Donald finally sells up and walks away from the north-east, it could enhance that positive mindset further.
The current owner claimed in January that he felt there was no other option but to sell up after increasing fan backlash.
At the time, it was noted that no further update would be provided until a preferred bidder is identified but that now looks like it may be in the pipeline after it was revealed by Bloomberg that discussions had been had.
Results have improved since Sunderland were put up for sale, something that feels rather ironic given the following sentence in the club’s statement in January: “The Board understands that long-term success cannot be achieved by a disunited club.”
That being said, there is still a huge amount of work to do for the side to get back to the top-flight and sustain current performance levels.