Sunderland have revealed that a sale of the club is close to completion after being given the green light by the English Football League on Friday.
An international consortium led by Stewart Donald has been looking to take control of the club from Ellis Short, who agreed last month to write off the Black Cats' £140m debts.
Sunderland, relegated to the third tier of English football for the first time in 30 years, now hope to have new owners in place by early next week to usher in a new era.
A statement on the club's official website read: "Following a meeting with the EFL on Friday, and the provision of further information, we can now confirm the proposed sale of the club could be concluded as early as next week.
"We would like to place on record our thanks to the EFL for their assistance during the process, at what is a very busy time of the football calendar for them. We are unable to make further comment at this time."
Donald must sell his stake in National League side Eastleigh before the deal can go through.
