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Short can take control of Sunderland after Drumaville hit by downturn

Ellis Short is able to take control of Sunderland after the Drumaville consortium were hit by the global economic downturn, it has been revealed.

The Guardian says the billionaire is said to be ready to buy out the Drumaville consortium to take overall control of Sunderland. According to its most recent available accounts, the club has long-term debts of £45m, mostly secured against the Stadium of Light.

Drumaville was forced to inject nearly £9m in its first year of ownership to help cover a loss of £15.5m but such financial support would be hard to come by in future. That is because the Drumaville investors have seen their wealth slide following the implosion of the housing and credit bubbles in Ireland.

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