Quinn bids £10m for Sunderland

Niall Quinn's consortium has reached an agreement on a £10m cash offer for Sunderland.

The Drumaville company, shared by the former Republic of Ireland striker, is seeking 90 per cent ownership, which means it needs to buy a significant number of shares on top of the 56.8 per cent owned by the club's former chairman Bob Murray to complete a takeover. "I am personally delighted on behalf of my consortium company, Drumaville, to be in a position to present this offer to the shareholders and fans of SAFC," Quinn said.

"We believe this heralds a new beginning for Sunderland, but it is only going to happen if everything comes together in a joint effort." Quinn will now seek to recruit a top class manager, but declined to comment on speculation that Martin O'Neill is his first choice, with Roy Keane and Alex McLeish also on his short list.

"I'll tell you what I'm looking at - I've got to get somebody who really does stick his chest out and is passionate about driving this club back to where it was, and the fans can connect with it," he said. "What I can't have is somebody who sees it as a stop-off point before another job."