Sunderland have confirmed American tycoon Ellis Short is to assume 100 per cent control of the club.
The club's majority shareholder, who bankrolled their summer spending spree last year, will complete his buy-out of the Drumaville consortium put together by chairman Niall Quinn three years ago.
Quinn told the club's official website: "This is fantastic news for the club. Ellis has already shown tremendous commitment to date, but today'sannouncement opens the door for a new era at the Stadium of Light."
Short, who had previously kept a low profile since becoming involved with the club, has recently become a more public figure, appearing beside Quinn in thedirectors' box at Portsmouth last Monday evening and then again at the Stadiumof Light at the weekend.