Phil Smith has been speaking on The Roar podcast about the major issue surrounding Sunderland and chairman Kyril Louis-Dreyfus.
Sunderland fans were left angered and lied to earlier this week when The Athletic reported that Louis-Dreyfus actually only owned 41% of the club, meaning that he in fact does not have a majority stake in the club.
Do you want Louis-Dreyfus out of the club?
Yes!
No!
That doesn’t appear to be the only problem at Sunderland off the pitch, though, with Smith claiming that the parachute payment money Louis-Dreyfus used to buy the club is not actually being repaid in full to Sunderland.
Smith has dropped damning claims on the Sunderland owner, saying: “While the parachute payment money used to purchase the club is being repaid, it is not being repaid in full, so that debt is still being paid down when money goes into the club, and I think that’s a really important point as well, because it’s a hugely controversial issue, and rightly so.
“That is one of the key questions in terms of Sunderland, Kristjaan Speakman insisting in terms of player investment they are one of the biggest spending clubs in League One, they spent the most on fees in January through Jay Matete and Trai Hume, so they reject the insinuation that the club has been held back because of funding issues.”
TIF Thoughts on Sunderland…
It’s been a pretty miserable couple of weeks for Sunderland fans as they saw Roy Keane reject the idea of becoming their new manager, have only seen their side win once in their last eight matches and also found out their previous owners Madrox still have a stake in their club.
Louis-Dreyfus is reportedly eager to buy more shares in the club to ensure that fans know he is the main guy at Sunderland upstairs, however, it may take a lot more than that to win their trust back.
In other news: ‘It’s my understanding’ – Phil Smith reveals Louis-Dreyfus’ huge plans in SAFC update