Sunderland are close to a multi-million pound takeover according to The Times.

Black Cats chairman Stewart Donald has agreed to sell his majority stake just a year after buying the League One club from Ellis Short.

US investment firm MSD Partners’ Glen Fuhrman, Rob Platek and John Phelan are part of a consortium looking to complete a takeover of Sunderland.

The company looks after the finances of Michael Dell who is the founder and chief executive of Dell Technologies and believed to be the 25th richest man in the world.

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Although Dell will be a passive investor and Fuhrman, Platek and Phelan are to inject money in a personal capacity.

Donald and executive director Charlie Methven are expected to remain at the Stadium of Light after the takeover, keeping minor shares but conceding control on club decisions.

The company have been keen to buy Sunderland following positive talks between all parties and a takeover could reap huge benefits for the north east club.

Sunderland were denied a return to the Championship last season as they lost out to Charlton in the play-off final but with a huge cash investment allowing them to delve into the transfer market and make further reinforcements this could be just what is needed to push forward once more.

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Donald has been seeking extra investment over the summer to aid another promotion push for the Black Cats. Jack Ross’ side are sixth in League One after an unbeaten start to the season, winning two of their four games and are well on course for another good campaign.

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