Sunderland have issued a statement addressing rumours surrounding their manager search and a potential takeover.
The Black Cats were plunged into uncertainty on Tuesday following the sacking of Jack Ross and unconfirmed reports a proposed takeover for the club had collapsed.
Ross was dismissed following defeat at Lincoln City, and the likes of Gareth Ainsworth and Phil Parkinson have been linked with the hotseat.
Glenn Fuhrman, John Phelan and Rob Platek have been in talks to buy the Black Cats since at least August, but recent reports suggest the American billionaires have walked out on a potential deal over the club’s valuation after carrying out due dilligence.
Given the uncertainty surrounding the club, Sunderland have decided to address the speculation around the hunt for a new manager and potential takeover in a statement on Friday evening.
The Black Cats hierarchy say the search for Jack Ross' replacement will remain "confidential" while the ongoing discussions surrounding "future investment" means the club "cannot give further comment".
The statement reads as follows:
"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. We wish to address these.
" A. The recruitment of a new manager
"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. Naturally, this process will remain confidential and we won’t be commenting further until an appointment is made.
" B. Discussions regarding future investment
"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. 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."
