Stewart Donald has denied that a Sunderland takeover is imminent - after the club's owner paid-off former chief Ellis Short.
Donald and executive director Charlie Methven purchased the Black Cats from Short a year ago for a £40million fee, which was initially expected to be paid in instalments over two years.
However, Donald has revealed that the final payment had been made to the club's former owner - leaving Sunderland debt free.
And with the final payment made, the club's hierarchy are now pushing ahead with plans to bring in fresh investment with the removal of all debt likely an attractive proposition to potential buyers or investors.
Indeed, rumours have intensified in recent weeks with a number of reports claiming various potential buyers have shown an interest in the club.
But when asked by a supporter on Twitter whether a takeover was imminent, Donald simply replied 'no'.
The Sunderland owner has made no secret of his desire to bring in fresh investment as the club look to mount a push back up the football pyramid - and has already seen Juan Sartori purchase a 20% stake in the club.
And he confirmed on social media that his priority now was on generating even more fresh investment to ensure the club can continue to compete.
"Club is debt free. Mr Short is paid off," he tweeted.
"I need to now organise increasing revenues & generating investment to be spent wisely and ensure we can compete.
"We are just working hard - trying to be organised and prudent. No secret agenda's we r just trying to be sensible."