Former Premier League side Sunderland have confirmed that they are close to agreeing to a deal that will see the club change ownership following meetings with the English Football League (EFL) on Friday.
The Black Cats were relegated from the Championship this season, finishing bottom of the league to drop into League One just one year after they fell out of the top flight.
And the club will now undergo a change in ownership as they look to climb back up the footballing ladder, with Ellis Short's proposed sale of the club set to be confirmed next week.
"Following a meeting with the EFL on Friday, and the provision of further information, we can now confirm that the proposed sale of the club could be concluded as early as next week," Sunderland confirmed in a statement on their official website.
"We would like to place on record our thanks to the EFL for their assistance during the process, at what is a very busy time of the football calendar for them. We are unable to make further comment at this time."
Short is understood to have reached an agreement with a group, who are headed by Stewart Donald, over the sale of the club. Part of that deal included the removal of Chris Coleman and Kit Symons as the club's manager and assistant respectively.