The wealth of Stewart Donald, the prospective new owner of Sunderland, does not come close to the outgoing billionaire Ellis Short but he does have a record of adding value to football clubs, albeit at semi-professional Eastleigh.
The 43-year-old has worked in the insurance industry for more than 20 years, rising from a junior role to senior management. Together with business partner Neil Fox he acquired a string of companies, amassing a net worth of around £8.4m.
That figure pales in comparison to the estimated £1bn net worth of the American businessman Short. But while Short stood accused of spending his money badly at Sunderland and, in later years, failing to invest in the failing club, Donald has spent wisely at Eastleigh. In the six years since he took over at the Hampshire club they have risen from the Conference South to the National League and their ground has undergone extensive redevelopment. Donald, who lives in Oxfordshire with his family, estimates he has invested £10m in Eastleigh. In a local newspaper interview in 2017, he said: “£10m is £9.5m more than I expected to spend after five years, but I would do it all over again.”
Despite the huge outlay there, Donald is careful with his money. “I do keep count of how much I spend and could probably tell you down to the nearest 10p,” he said. “I hit the roof because we were giving out free bottles of water which cost us 10p and the players were only drinking half of it. It’s wastage and I saved the club £500.”
Donald, who is leading a consortium of investors set to buy Sunderland, announced on Sunday that he would be putting Eastleigh up for sale. It will be seen as a blow to the majority of the fanbase who he has become popular with not least because of his willingness to engage in discussion on their community message boards.
His association with the club can be partly ascribed to a meeting with Glenn Hoddle, the former England manager whom he has become friendly with. Hoddle was interested in being part of Donald’s project to buy a club in 2012. The partnership did not materialise but in the course of their discussions Hoddle mentioned Eastleigh as a potential target. He is a lifelong supporter of League One Oxford United and his company Bridle insurance were once the club’s main sponsor.
