Drumaville Consortium

Group of businessmen involved in takeover of English Premier League

The Drumaville Consortium was a group of seven Irish businessmen and one English businessman led by former footballer Niall Quinn, who were involved in the 2006 takeover of English Premier League football club Sunderland A. F. C. The consortium was named after the village of Drumaville in County Donegal.

On 7 September 2008 it was reported in the Irish Sunday Business Post that new shares had been issued to raise additional funding of up to £50 million (€62 million) for new players. It was understood that a number of the original consortium members did not take part in the fund rising and therefore their percentage share holding reduced. Niall Quinn was quoted as saying that the Drumaville Consortium was still intact and the individuals behind it remained the driving force behind the club. On 25 September 2008 it was reported that Ellis Short, a Dallas based billionaire Irish American fund manager, became the largest single shareholder in the Drumaville Consortium with a 30% buy in. It was not known how this affected the shares of the original members. Short is one of the co founders of Lone Star Funds. On 27 May 2009 Short announced that he had purchased the remaining shares of the club, becoming the sole owner. Quinn remained as chairman.

On 19 April 2006, Quinn confirmed he was in the process of gathering a consortium for the purpose of launching a takeover bid for Sunderland. This followed a month of rumour and speculation. Nine days later, on 28 April, Sunderland confirmed they were in talks with a group led by Quinn, although they stated that no firm offer for the club had been made. On 14 June, Bob Murray announced his resignation as Sunderland chairman as of 30 June, but announced that he would remain on the board of directors of the club. On 3 July, Sunderland announced that they had accepted an offer from the consortium valuing the club at around £10m, with Niall Quinn becoming club chairman. On 27 July 2006, Drumaville Ltd took full control of Sunderland Football Club after securing 89.13% of the shares in Sunderland Ltd.

On 25 September 2008 Ellis Short bought 30% of the shares. On 27 May 2009 Short purchased the remaining shares.