Bridle Insurance CEO Stewart Donald to sell Eastleigh in order to buy former Premier League team
Bridle Insurance chief executive and founder, Stewart Donald is to take over Sunderland Football Club.
Subject to approval by the English Football League (EFL), the 43-year-old has said he will relinquish any investment in non-league side Eastleigh, a club in which he has invested a reported £7m into and left debt free.
He has also invested in Oxford United, a local team to where Bridle is based.
Bridle Insurance is a broker which specialises in civil engineering and construction industries.
According to Companies Check, Donald is the director at 17 companies and has a net worth of around £8.4m.
In a statement, Donald said: “Eastleigh and Oxford are different cases to each other and, of course, smaller than Sunderland. The similarity, though, is that there is also a lot that needs to be addressed here, and it needs to be addressed with realism, focus and dedication. For a club with one of the best fanbases, stadium and academies in the UK to find itself in League One is unacceptable.
“We have a carefully thought-through plan to restructure the club, make it sustainable and, with the help of the fans, to restore its sense of pride and re-connect it with the local community. In short, we are rolling our sleeves up to do what needs to be done to ready this club to start competing again.”