The majority shareholder has publicly announced his intention to sell his stake in the Black Cats and the University of Liverpool football finance expert Kieran Maguire has revealed what is likely to be happening at the Stadium of Light at the start of the acquisition.
“There will be agents phoning Stewart Donald, or brokers, all the time,” he explained.
“They will say” I have an interested party from Turkey, Hong Kong and so on.
“The first thing he will do is filter the tire players from serious people. One way to do this is to say that you have to pay a non-refundable deposit to examine the books in detail – which will probably scare 99% of people.
“They are looking at a company that will lose money, certainly in League One and above all running out of parachutes.
“But interested parties will come in, take a look at the costs in recent seasons and if there are any problems there.
“And then they will look at the current contracts to see what the costs of the players will be, what they are inheriting and pledged to pay.
“Depending on the wealth of the people who arrive, this would also determine how much they are willing to invest on the pitch and, in turn, how much Stewart Donald would pay.”
Shortly after announcing his intention to leave, Donald told BBC Newcastle that he hoped an acquisition would end in a “month or two”.
And while that time scale has been greeted with skepticism by some, Maguire believes it is a realistic proposition – provided there is a willing buyer.
“It’s doable,” he added.
“If you have a sincere and interested partner, they will come in and their accountants and lawyers will work 16 and 20 hour shifts to read the books.
“They have already done the due initial diligence, so there is no reason why an agreement cannot be concluded in a month.”