Sunderland release statement regarding investment talk and manager hunt

Potential investors at the Stadium of Light earlier this season

Sunderland AFC say talks regarding fresh investment in the club are ‘ongoing’.

Supporters had been promised an update today after reports in the national press earlier this week said a potential deal with MSD Partners had collapsed.

In a statement, the club have asked for ‘patience’ and said they cannot comment until talks are ‘concluded one way or the other’.

“We are aware of speculation surrounding two issues at the club: the search for a new first team manager and discussions regarding future investment in the club,” it reads.

“We wish to address these.

“The Board has consistently stated its desire to seek additional investment to enable the club to be competitive in whichever league it finds itself in,” it adds.

“In League One, this [additional investment] is not a necessity, so it is a matter of looking to future requirements, if and when promotion is achieved.

“Discussions have been ongoing for some time, and continue to be so, but until those talks have concluded one way or the other the club cannot give further comment, owing to confidentiality agreements.

“Whilst we understand the desire of supporters to know how the process is developing, we would ask, please, for some patience. We will provide an update as soon as we are able to. In the meantime, please do not attach undue credence to speculation and theories from various sources, as they are unsubstantiated.

“Across all areas of the club we continue to operate and progress as usual. The business of the club is in good working order, as we look forward to an exciting few months on the pitch, including crucial League One matches and a last 16 League Cup tie against Oxford United.”

The statement also said that the board is in the process of identifying potential candidates to replace Jack Ross, who was sacked earlier this week after the 2-0 defeat to Lincoln City.

“The Board is engaged in a formal process, involving drawing up a short-list of candidates, with the aim being to appoint a new manager as soon as is practical,” the statement reads.

“Naturally, this process will remain confidential and we won’t be commenting further until an appointment is made.”