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Offline Bally

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American buys stake in Sunderland
« on: September 26, 2008, 02:59:40 PM »
American buys stake in Sunderland
Updated: September 26, 2008, 3:31 PM EST 1 comment add this RSS blog email Print LONDON (AP) - Texas businessman Ellis Short bought a significant stake in Sunderland, the English Premier League told The Associated Press on Friday.

Short is co-founder of Dallas-based private equity group Lone Star Funds. In August, he acquired more than 30 percent of the consortium that owns the club in northeast England.

Premier League clubs Manchester United, Liverpool, Aston Villa are also owned by Americans.

League spokesman Dan Johnson said Short has bought a stake above 30 percent. If he is deemed not suitable as an owner, he will have to take his investment below 30 percent. Britain's Daily Telegraph said Short is now the biggest shareholder.

"Sunderland AFC is unable to comment on any matters relating to the Drumaville Consortium or investment in the club except to thank them for their continued support," the club said.

The eight-person Drumaville company, chaired by former Sunderland striker Niall Quinn, bought Sunderland in 2006 for $18.4 million.

Members of the mainly Irish consortium contacted by the AP refused to comment, as did people connected with Short in the United States. Short has had no previous involvement in the sports industry.

Prosecutors in South Korea last year issued arrest warrants for Short on allegations of stock manipulation and tax evasion over the sale of Korea Exchange Bank to Lone Star Funds, of which he was vice chairman. No charges were brought.

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