Finance guru fears Sunderland are walking into takeover ‘horror story’ as crypto details emerge
Sunderland could be walking into a takeover “horror story” if Charlie Methven and Donald Stewart sell their equity to The Fans Together.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the cryptocurrency’s reported interest in a partial buyout at the Stadium of Light.
The Athletic reported on Sunday (12 June) that The Fans Together are in talks to purchase the 39 per cent stake owned by Donald and Methven.
Kyril Louis-Dreyfus, who owns 41 per cent of the Black Cats, claims he personally has not been consulted about the discussions.
Cryptocurrency has become a prominent but controversial feature of football’s commercial landscape in recent months.
Critics point to price crashes and bombastic claims about fan engagement in their arguments against the industry’s involvement in the game.
Plumley insists that Sunderland fans will not want their club to be treated as a guinea pig in crypto’s ongoing experiment in football.
“I’d be worried if I was a Sunderland fan given what we have seen elsewhere with crypto so far in general,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“That is the worry. Sunderland just can’t have a quiet day. They get promoted and now they want to sell out to a crypto firm.
“But given some of the horror stories we have seen in this industry, most Sunderland fans will be hoping this doesn’t come off.
“Despite the concerns about the current ownership setup, I’m not sure this is the way to go.”
Sunderland’s market value shot up immediately after they were promoted to the Championship via the playoffs in 2021-22.
Their 2-0 win over Wycombe Wanderers at Wembley ended a four-season stay in League One.
In other news, Kieran Maguire lambasts “embarrassing” Sunderland takeover lies after talks update.