(Picture: Action Images via Reuters)
Sunderland have been granted permission to talk to Preston manager Simon Grayson, while also announcing the proposed sale of the club is off.
After talks with a number of potential suitors, most notably a German consortium, the Black Cats confirmed in a statement that chairman Ellis Short does not believe selling Sunderland AFC is in the club's best interests.
It continued to say that Short would “continue his commitment, financially and personally” to the club, so the hunt for a new manager will now gather pace after rumoured candidates such as Nigel Pearson and Jürgen Klinsmann ruled themselves out of the running.
Grayson, who has a wealth of EFL experience after spells with Huddersfield, Leeds and North End, is seen as an ideal candidate to steady the ship at the Stadium of Light and his current employers have granted the 47-year-old permission to talk to Sunderland.
Following their relegation from the Premier League in May, the Black Cats sacked David Moyes and their attempts to find a replacement for the Scot have been hampered by the uncertainty of a takeover surrounding the club.
Former Bristol City boss, and current Aberdeen manager, Derek McInnes was close to being appointed last month but decided against the move due to the lack of assurances on transfer funds and club ownership.
Grayson is used to running things on a tight budget, and has often managed to get the best out of the team's he has managed – guiding Preston to their second consecutive 11th placed finish in the second tier last season.
He previously led the Deepdale club to promotion via the League One play-offs in 2015, and is the 10th longest serving manager across the Premier League and EFL.
