A consortium involving ex-Leeds United, Hull City and Derby County director Adam Pearson are no longer involved in takeover talks with Sunderland AFC.
News broke on Monday night claiming Pearson will head up a consortium weighing up a bid to take control of the Black Cats, with owner Ellis Short desperate to sell.
However, the Hull Daily Mail report that consortium are no longer involved in talks and Pearson himself was only asked to be involved at a "very late stage, days before the plans for a bid were ended".
Pearson has a wealth of experience in football and had recently been involved in a consortium interested in purchasing Hull City but it never got off the ground.
He has made no secret of his desire to get back into football but it would appear it won't be at Sunderland AFC.
The Hull Daily Mail report the consortium ended their interest recently with no plans currently to re-enter negotiations, with Pearson's involvement having ended.
Short is looking to offload Sunderland, which has debts of £110m, and there has been interest from groups in Ireland and the UK, with a local consortium including local business G O'Brien & Sons understood to have expressed a strong interest.
Chief executive Martin Bain last week confirmed Short is actively trying to sell - with a number of interested parties carrying out due diligence to varying degrees.
Short, based in the US, will continue to fund the running of the club in the meantime, confirmed the chief executive.
Bain last week met with representatives from fan group Red and White Army (RAWA), along with other fan groups, and in the minute's from the meeting confirmed work is ongoing to try and sell Sunderland, on the brink of relegation to League One.
The club’s precarious league position and crippling debt make any deal complicated and while a number of parties have expressed an interest, as of yet, no resolution is understood to be imminent.