Sunderland have been granted permission to speak to rival Championship outfit Preston North End boss Simon Grayson about their managerial vacancy.

Shortly before Sunderland's announcement, Preston said that, after contact from the Black Cats, 47-year-old Grayson asked to speak to the north-east club.

A statement from North End confirmed that a compensation package, believed to be about £750,000, is already guaranteed in his contract and his appointment is expected to be confirmed on Thursday or Friday.