The appointment would be high-profile for both parties, with Sunderland benefiting from Miliband's political status and experience in the United Kingdom and abroad.
Lucky Black Cat? Labour MP David Miliband is set to join the board at Sunderland
The role for Miliband, 45, would be non-executive and he would join the chairman as the public face of Sunderland.
Quinn has confirmed the club has held talks with Miliband over the role at the Stadium of Light.
He said: 'We are always challenging ourselves to find new ways to grow and develop the club and to make it stronger. We have had talks with David Miliband about a non-executive role at the club, but have nothing further to report at the moment.'
A spokesman for Mr Miliband had earlier said discussions had taken place about a role which would focus on the MP's 'international and community work'.
He said: 'David Miliband is determined to continue to serve his constituency and pursue his interests in foreign and environmental policy.
Suits you: Sunderland chairman Niall Quinn
'Discussions have taken place betweenDavid Miliband and Sunderland AFC about a non-executive role with the club focusing on his international and community work.'
Born in London, Miliband is said to have been a poor goalkeeper at school. He has not hidden his support of Arsenal. While Foreign Secretary, Miliband asked Arsenal manager Arsene Wenger for his autograph and got it.
The politician is the MP for the South Shields constituency where many Sunderland fans live. He has been an occasional visitor to the Stadium of Light and has also supported the Sunderland Foundation, the club's charity.
It is understood Quinn approached him following his defeat by brother Ed in the Labour Party leadership election last September. Miliband is thought to be keen to take the position, but parliamentary procedure must be adhered to and no appointment is expected until next month.
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