Sunderland owner Ellis Short is reportedly on the verge of selling the North-East side to an unnamed German company.

The American has actively been looking to sell the club for the last year and his reluctance to supply funding during that time was an instrumental factor in the Black Cats' relegation from the Premier League at the end of last season.

According to The Sun, Short is looking for around £100m for the club and is prepared to accept a significant chunk up front, with the remainder following should they earn promotion from the Championship this season.

The newspaper claims that the deal with the "mystery" German firm is close and could be completed "in the next couple of weeks".

Sunderland are currently in the market for a new manager to lead them in the Championship following David Moyes's resignation last month.