Sunderland released a statement confirming that talks with potential buyers had come to an end
Sunderland owner Ellis Short has shelved takeover talks after deciding a sale “would not be in the best interests” of the club.
Minutes after Preston announced that the Black Cats had been given permission to speak to Simon Grayson about the managerial vacancy at the Stadium of Light, Sunderland released a statement confirming that talks with potential buyers had come to an end and that Short will remain at the helm.
The statement said: “Recently, we informed supporters that discussions were taking place with parties who had expressed an interest in acquiring ownership of Sunderland AFC. Subsequently, more detailed talks were held over the last week with one of these groups.
“Ellis Short and the board were committed to ascertain if this group was better placed to take the club forward in the right way and to improve it, both on and off the pitch.
“A defined time frame was placed on discussions to ensure that the club could move forward quickly and decisively with its plans for the new season should they not come to fruition.
“We have concluded these talks and have determined that this proposed sale would not be in the best interests of Sunderland AFC.
“Ellis Short will continue his commitment to the club, both financially and personally, moving forward.
“We would like to thank our supporters for their patience during what we know has been a period of uncertainty and frustration for them.”
Sunderland have found themselves in a state of flux since relegation from the Premier League was confirmed, prompting David Moyes to resign on May 22.
However, news that the takeover talks are now at an end have removed a degree of that uncertainty and the club have confirmed they have been given permission to speak to Grayson.