A takeover deal is close to completion at Sunderland, according to club legend Michael Gray.

Owner Ellis Short is keen to offload the debt-laden team following their relegation to League One, and a number of parties are said to have expressed interest.

Speaking to talkSPORT, Gray has assured fans that there could be an official announcement about the Black Cats' future and the rumoured buyout in the coming weeks.

"There's light at the end of the tunnel, put it that way," Gray said.

"There's going to be a bit of excitement at the club over the next two or three weeks - that's all I can say about it. I'm quite excited about.

"Something needs to get done quickly - it'll put smiles back on people's faces and get them going back to the stadium.

"It's a plan - it's not going to happen overnight. But I think it's something to look forward to."

Fulham heaped more misery on already-relegated Sunderland on Friday evening when they beat the Championship's bottom club 2-1 at Craven Cottage.