Ellis Short to remain as owner of Sunderland after they end talks with potential buyers

Sunderland AFC fans will breathe a sigh of relief to see that the club's future has finally been sealed, with the club confirming that current owner Ellis Short will remain at Stadium of Light and any talks with potential buyers of The Black Cats have been ended.

Will continue to his commitment both financially and personally

It has been another season to forget in the North East with the club going one step further in their misery, as they suffered the fate of relegation after a ten-season stint in the Premier League.

It has been well known that Short has been looking to sell up for some time, with Short and Chief Executive Martin Bain believed to have been talking to a German consortium as well as the Fulwell73 consortium who pulled out of the race over a week ago.

The club was believed to be valued at around £90million, but the club have released a statement stating that Short would be retaining his ownership and that the sale to the German consortium would not be "in the best interests" of the club.

The statement read: "We have concluded these talks and have determined that this proposed sale would not be in the best interests of Sunderland AFC."

“Ellis Short will continue his commitment to the club, both financially and personally, moving forward," it added. "We would like to thank our supporters for their patience during what we know has been a period of uncertainty and frustration for them.”

Bring the good times back to Wearside

The other big issue that hung over Stadium of Light like a dark cloud was finding a new manager, with David Moyes having been relieved of his duties after the club's relegation.

It did seem that Abderdeen's Derek McInnes was the front runner having spoken to the club, however he rejected the offer of managing the Wearsiders to remain at the Pittodrie Stadium.

The club did reveal in their statement that they were speaking with Preston North End's Simon Grayson, the manager who has over 600 matches under his belt later signed a three-year deal and he shared his delight at making the move to the Stadium of Light.

“I am delighted to come to Sunderland, a club with such wonderful history and tradition," Grayson told safc.com. "I’m excited by the opportunity to manage this club and I want to bring the good times back."

“Sunderland are so fortunate to have such tremendous support," he added. "And I want to give these fans a team they can be proud of."