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Sunderland takeover talks fail

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Talks with a German consortium for the takeover of Sunderland have ended in failure.   The club set a time limit on the talks so that preparations could begin for next season and have now brought in Simon Grayson as manager.

No reason was given for the failure of the talks, but it is thought that there was a gap between the sum wanted by owner Ellis Short and what the Germans were prepared to offer.  Sunderland were losing £500,000 a week in the Premier League and Short's £90m price tag seems difficult to justify.  In any case, the club is no longer for sale.

There were always concerns about whether the Germans had sufficient funds to buy the club, particularly given their ultimately unsuccessful attempt to buy Hull.   However, the news was greeted with dismay by Sunderland fans who do not see a good way forward for the club.