sport news chief Stewart Donald can charge the club mammoth INTEREST 9% above ...

chief Stewart Donald can charge mammoth INTEREST - 9% above base rate - on loans he has made to company that owns club Stewart Donald can charge interest 9% above base rate on loans  A 'loan agreement' made by Donald's company has an interest charge on it Donald and his co-owners borrowed parachute payments to complete takeover Donald has been trying to sell the club but prospective buyers walked away 

By Craig Hope for the Daily Mail

Published: 22:02 BST, 15 May 2020 | Updated: 22:08 BST, 15 May 2020

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Stewart Donald can charge interest up to nine per cent above base rate on money he loans to the holding company that owns .

A previously unreported 'loan agreement' from August 2018 shows that money loaned to Madrox by majority shareholder Donald has an interest charge over it, should he choose to apply it.

However, Donald is refusing to comment on the existence of the document, a move that is sure to leave fans wondering if interest has been applied or if it will be in the future, and who would be liable to pay it.

Sunderland's majority shareholder Stewart Donald (pictured) can charge interest up to nine per cent above base rate on money he loans to the holding company that owns Sunderland

's majority shareholder Stewart Donald (pictured) can charge interest up to nine per cent above base rate on money he loans to the holding company that owns

The 'loan agreement' shows money loaned to Madrox has an interest charge over it

The 'loan agreement' shows money loaned to Madrox has an interest charge over it

The League One club have shut down communication with this newspaper since we revealed Donald and his co-owners have written off £20.5million of the money they owe the club, having borrowed parachute payments — interest-free — to complete their £37m takeover in 2018. And despite acknowledging our questions regarding the loan agreement, the club have not provided answers.

All we have received is an email from

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