With a deal now understood to be close, we take a look at how the takeover narrative has progressed over the last year and all of the key names in the frame.
Scroll down and take a look at how things have developed since owner Stewart Donald first opened sale talks:
1. File photo dated 17-11-2018 of Stewart Donald PA Photo. Issue date: Saturday July 18, 2020. Stewart Donald has resigned as Sunderland chairman, the club have announced. See PA story SOCCER Sunderland. Photo credit should read Richard Sellers/PA Wire
Sunderland AFC owner Stewart Donald Photo: Richard Sellers
2. July 27th 2019
Mark Campbell - the first person to enter detailed talks with Donald - confirms that his takeover bid for the club has collapsed, as he turned his attention to a bid for Falkirk. Photo: Michael Gillen
3. August 23rd 2019
It is confirmed that a group of American investors - Robert Platek, John Phelan and Glenn Furhman - are in talks over a deal to purchase Sunderland AFC. Michael Dell is involved as a ‘passive, minority investor’. Phelan and Platek attend the Black Cats’ clash with AFC Wimbledon the following day. Photo: FRANK REID
4. September 17th 2019
A new company - called FPP Sunderland - is lodged at Companies House. Fuhrman, Phelan and Platek are the three directors. Photo: FRANK REID