However, a newspaper report on Thursday suggested the parachute payments have been used to pay off Short and that Donald, who initially bought a 94 per cent stake in the club, but has since sold 20 per cent of it to Uruguayan businessman Juan Sartori, and Methven would make a huge profit if they were to sell.

However, Donald said in a statement: "I have been clear from the outset that we bought the club at a rock-bottom price because of the dreadful financial state it was in.

"If I simply wished to make money out of Sunderland, we could have skimped on investment in the playing staff. And, we could have accepted Ellis' offer to port a large portion of his previous debt onto our company, kept the details of the purchase more confidential and sold the club in its entirety – for which I have had plenty of big offers.

"Instead, I have been as open and transparent as possible with the fans and I am clear that I wish to retain a significant investment in the club for the long-term. The notion that I am going to leave Sunderland in the short-term, having made a quick profit, is simply wrong."

There is no suggestion that Donald and Methven have broken any rules, although with League One play-off finalists Sunderland now effectively debt-free, they have become a much more attractive proposition and there has been persistent speculation that interested parties are circling.

Donald confirmed his company Madrox Partners Limited had agreed to pay Short £40million, with last summer's parachute payment covering £25million of the total, and revealed that the club had debts of around £150million on his arrival.

He said: "Just over a year ago, Sunderland was in very poor condition, both on and off the field. Twelve months on, the club is debt free and is in a position to come close to break even over the next 12 months.

"Furthermore, I am now in the process of ensuring that there is the appropriate level of investment available to provide competitive playing budgets on an ongoing basis."

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