Niall Quinn shares previous worrying financial Sunderland insight | OneFootball

Niall Quinn has revealed that Sunderland had financial issues in the region of £20m back in 2006.

Former Sunderland chairman Niall Quinn has revealed that the club were facing a black hole of over £20m back in 2006.

The Irishman was a firm favourite at the Stadium of Light following his playing career, where he made over 200 appearances during a successful period for the Black Cats.

And, Quinn came back to Sunderland in 2006, brokering a deal between the club and a Drumaville consortium made up of Irish businessmen.

Niall Quinn reveals Sunderland financial concerns in 2006

In the end, the deal would get done, and Quinn took on the role as chairman as well as initially starting out as caretaker boss, but the ex-striker has opened up on just how bleak the outlook was for Sunderland back then.

Speaking to the club’s YouTube channel, as shared by the Sunderland Echo, Quinn explained how they were in a situation where they needed to find £22m to keep the club going.

“What was most prevailing was they had just let 90 people go from the staff and it was a really horrible time at the club. The worst points total ever to get relegated, staff being made redundant, 14 professional players were left, it was pretty low, pretty flat. But to me it was the opportunity of a lifetime.

“We weren’t allowed to sign players for money for the first few weeks. Scottish Bank, who were owed a lot of money, £22m I think, pulled out of the deal at the last minute, they didn’t like what we were or who we were. So we had to find money overnight and literally we were playing Coventry first game of the season.

“On the Friday when I should be training with the team I was down in London with Anglo-Irish Bank trying to get money to make sure the deal went ahead. That’s how tight it all was. Imagine, my first business gig and Anglo Irish Bank let me go on the train back up to Durham with a guarantee of the £22m to pay to Scottish Bank. So it was mad stuff.

“Thanks to the guys in Drumaville, we were able to get the club back into shape. It was a matter of getting it as high up as we could over the next few years. But it was a strange time. Did I spend my career thinking I was going to be chairman of a football club? No. It happened.”

Niall Quinn brought the good times back to Sunderland

Sunderland had been relegated from the Premier League in 2006 with just 15 points, with Bob Murray not able to put money into the club at that stage.

So, it was a bad time to be a fan of the Wearside outfit, as they were losing games every week and there was real negativity around the whole club.

But, the takeover brought fresh impetus, and obviously, the appointment of Roy Keane turned out to be an inspired one, as the side won promotion in the first season.

After that, Sunderland had a good run in the Premier League, with Ellis Short eventually buying the club in 2012.

We know that things went downhill during his reign over time, and there have been some real lows for Sunderland following their relegation from the top-flight in 2017.

Now, though, it does feel they are on the right path under Kyril Louis-Dreyfus, as Regis Le Bris’ men sit top of the Championship after 13 games.