Marc
07-28-2006, 09:41 AM
The consortium led by Niall Quinn has completed its takeover of the club.
Quinn, who was appointed as manager on Tuesday, and his Drumaville group of investors agreed a deal for ex-chairman Bob Murray's shares earlier this month.
They then had 21 days to acquire the rest of the shares, which they have now done, giving them full control.
"It's great news, I'm thrilled. My staff, the players and the fans now all know which direction they are heading," said former player Quinn.
"It's a great feeling and it could not have come at a better time.
"I really feel now that together we can all get the job done, the direction is carved out."
On 3 July Quinn made a £10m cash offer for a majority stake in the club, representing 72.59% of the club's shares.
The Drumaville group's offer was dependent on them gaining 90% of the club, but despite falling short by less than 1% it has decided to waive the conditions of the agreement.
Quinn, who will act as both chairman and manager, is now in a position to bring new faces into the club and said he would be making three offers for players.
Free signing Kenny Cunningham has been the only new face at the club so far this summer, while Gary Breen, Kelvin Davis and Julio Arca have left.
Former Newcastle defender Robbie Elliott is training with the club, who were relegated from the Premiership last season.
hopefully quinn can bring some success to sunderland as they went through hell in the epl last season so hopefully we see more positives than negatives for sunderland in the championship..in my view i cant see them coming back up this season..:)
Quinn, who was appointed as manager on Tuesday, and his Drumaville group of investors agreed a deal for ex-chairman Bob Murray's shares earlier this month.
They then had 21 days to acquire the rest of the shares, which they have now done, giving them full control.
"It's great news, I'm thrilled. My staff, the players and the fans now all know which direction they are heading," said former player Quinn.
"It's a great feeling and it could not have come at a better time.
"I really feel now that together we can all get the job done, the direction is carved out."
On 3 July Quinn made a £10m cash offer for a majority stake in the club, representing 72.59% of the club's shares.
The Drumaville group's offer was dependent on them gaining 90% of the club, but despite falling short by less than 1% it has decided to waive the conditions of the agreement.
Quinn, who will act as both chairman and manager, is now in a position to bring new faces into the club and said he would be making three offers for players.
Free signing Kenny Cunningham has been the only new face at the club so far this summer, while Gary Breen, Kelvin Davis and Julio Arca have left.
Former Newcastle defender Robbie Elliott is training with the club, who were relegated from the Premiership last season.
hopefully quinn can bring some success to sunderland as they went through hell in the epl last season so hopefully we see more positives than negatives for sunderland in the championship..in my view i cant see them coming back up this season..:)