MX23RW : Sunday, October 21 15:19:37

Report: Sunderland close to finalising £100m takeover deal

Ellis Short is reportedly on the brink of selling Sunderland in a deal worth £100m, with two parties willing to meet his asking price.

Sunderland owner Ellis Short is confident of finalising a £100m takeover deal by the end of the week, according to a report.

The American businessman, involved at the Stadium light for the past eight years, is keen to offload the Black Cats on the back of their relegation last season.

Short was said to be holding out for a bid of £85m to sell the club, but Sky Sports News suggests that a nine-figure agreement is close to being reached in principle.

Two rival bids are reportedly on the table - one from Germany and another from a multi-national consortium, which it emerged on Monday is being led by a group of Sunderland fans.

It is claimed that, should a deal be thrashed out in the coming days, Short will receive £90m up front and a further £10m in add-ons if the Championship outfit earn promotion in the next few years.

Sunderland are currently without a manager following the resignation of David Moyes last month, putting their search for a new boss on hold while they finalise a sale.

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Chairman of Sunderland AFC, Ellis Short, during the launch of a pioneering partnership between Invest in Africa and Sunderland AFC at Stadium of Light on June 25, 2012
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Sunderland 'prepared to sell for £85m'
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