Former Sunderland boss Mick McCarthy has dismissed rumours he could return to the club after being spotted in the area last week.
As he awaits approval for his takeover, Stewart Donald is confident he can provide the next Sunderland boss with a competitive budget.
There is no set timescale for the completion of the proposed takeover by a consortium headed by Eastleigh chairman Stewart Donald.
Sunderland owner Ellis Short has announced he has agreed to sell the club after sacking manager Chris Coleman.
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