Sunderland have released a statement explaining why Ellis Short will continue as chief of the club heading into the upcoming season.

It was widely expected that Sunderland's ownership would be changing hands this summer as a German consortium had began talks over a takeover of the English Championship side but revelations can now be made that the prospective deal has collapsed.

The statement said: "Recently, we informed supporters that discussions were taking place with parties who had expressed an interest in acquiring ownership of Sunderland AFC.

"Subsequently, more detailed talks were held over the last week with one of these groups. Ellis Short and the board were committed to ascertain if this group was better placed to take the club forward in the right way and to improve it, both on and off the pitch.

"A defined timeframe was placed on discussions to ensure that the club could move forward quickly and decisively with its plans for the new season should they not come to fruition.

"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.

"We would like to thank our supporters for their patience during what we know has been a period of uncertainty and frustration for them."