Sunderland Athletic Football Club (SAFC), which has suffered a spectacular fall from grace with two successive relegations, will be sold to a consortium fronted by Stewart Donald, the current chair of Eastleigh Football Club.

The deal to sell the club was announced by Sunderland's current owner, entrepreneur Ellis Short.

Short's ownership of the club has been marked by perennial struggles against relegation from the English Premier League, with the club finally succumbing to the drop last season (2016-17). Matters were made worse this season, as the club was relegated for a second time, to the third tier of English football.

“It is no secret that I have been trying to sell Sunderland, but I have waited until the right group came along that have the experience, finances and plan to take this great club back to where it deserves to be," Short said in a statement.

“Overall, my chairmanship has not gone the way I would have wished; the many high points of a decade in the Premier League have been overshadowed by the low points of the last two terrible seasons.

"I was, therefore, determined to ensure that I leave Sunderland in the best possible hands and in the best possible state to turn the corner.

"To achieve this, higher offers from less qualified buyers were rejected, and I have paid off all debts owed by the club to leave it financially strong and debt free for the first time since years before I owned it.

The deal, which is subject to English Football League (EFL) approval, will see ownership pass to a group led by Donald, current chair of Eastleigh FC.

Donald has put Eastleigh up for sale in order to comply with EFL regulations, which prevent ownership of more than two clubs in the football pyramid.

“All of us involved in this bid believe that Sunderland represents an extraordinary opportunity," Donald said.

"Our group have all been involved in building – or re-building – football clubs to reach their potential and we believe that over the last decade we have acquired the necessary skill sets to overcome the many challenges that will face us at this huge club.”

As well as his association with Eastleigh, Donald has also been a key behind-the-scenes presence at Oxford United in that club’s revival over the last ten years, as an investor, shirt sponsor and supporters trust committee member.

He added: “Eastleigh and Oxford are different cases to each other and, of course, smaller than Sunderland. The similarity, though, is that there is also a lot that needs to be addressed here, and it needs to be addressed with realism, focus and dedication. For a club with one of the best fanbases, stadium and academies in the UK to find itself in League One is unacceptable.

“We have a carefully thought-through plan to restructure the club, make it sustainable and, with the help of the fans, to restore its sense of pride and re-connect it with the local community. In short, we are rolling our sleeves up to do what needs to be done to ready this club to start competing again.”