David Moyes insists Ellis Short remains passionate about the Sunderland cause.
The pair met last weekend, alongside Chief Executive Martin Bain, to begin thrashing out a plan for next season.
Moyes says the decision to proceed now rests with the owner, who has been keen to sell the club.
He said: “All we did was put down thoughts on what it would take, and then left it with Ellis for him to decide.
“But the conversation was fine.
“Obviously, Ellis was really disappointed [at relegation] because, whatever anybody says, he is really passionate about this club,” he added.
“Sometimes people don’t see that, but he wants his team to win and his club to do well, and he is disappointed when that doesn’t happen.
“We have to try and find a way to make this work quickly.”
Moyes has presented an initial plan to Short on what he thinks Sunderland will need to bounce back, including case studies of other sides who have managed the feat.
Sunderland are braced for a summer of high turnover in the playing staff, with 10 players out of contract and three loanees set to return to their parent clubs, before a number of players under contract move on to pastures new.
Moyes will speak to those affected next season but said he is up for the rebuild, and despite the changes on the way feels Sunderland have a core of players who can flourish in the Championship.
Moyes said: “Even if some players go, we’d have the nucleus of a pretty good side.
“There’s a good solid base of 10 or so players who I think will be good, but obviously that won’t be enough and we’ll need to add more to have a side that would give us every opportunity.
“But there’s the basis of a side here.
“We’ve got a full week with no game next week, and we’ll speak to the players and I’ll try to get around to as many as I can next week, because the following week will be pretty busy with three games in eight days,” he added.
“We’ve got about 10 players out of contract and we will speak to them next week.”