Ellis Short hands over Sunderland DEBT FREE as Stewart Donald prepares to take control
Short, who has already capitalized over £100 million worth of debt during his tenure, has now written off the rest owed to him, believed to be around £70 million.
He has also taken on the debt owned to SBC, believed to be a similar figure.
The challenge now for Stewart Donald and his consortium of investors is to take on the club's onerous running costs, with Short injecting a significant some of money every month to keep the club afloat.
Sunderland will take a significant wage bill into League One and significant cuts on the playing side this summer are a certainty.