Short secures Sunderland buy-out

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The club's majority shareholder, who bankrolled their summer spending spree last year, will complete his buy-out of the Drumaville consortium put together by chairman Niall Quinn three years ago.

Quinn told the club's official website, www.safc.com: "This is fantastic news for the club. Ellis has already shown tremendous commitment to date, but this announcement opens the door for a new era at the Stadium of Light."

Short, who had previously kept a low profile since becoming involved with the club, has recently become a more public figure, appearing beside Quinn in the directors' box at Portsmouth last Monday evening and then again at the Stadium of Light at the weekend.

He was on hand to witness the wild celebrations as the Black Cats secured their Barclays Premier League status despite a 3-2 defeat by Chelsea as arch-rivals Newcastle slipped into the Coca-Cola Championship.

However, amid suggestions he could pump up to a further £20million into the club, Quinn revealed Short has already played a major role in its recent development.

He said: "I first met Ellis at the Ryder Cup in 2006 and he was immediately interested in the Sunderland story and what we were trying to achieve.

"He's an avid sports fan and caught the football bug following his move to the UK 10 years ago, and is now a huge fan of the Premier League.

"Even before today, he has personally invested more in Sunderland than all previous chairmen, directors and owners combined in the club's history.

"Late last summer, he injected tens of millions of pounds to fund our new signings and the resultant increased wage bill. In going forward, as long as we invest the funds wisely, he will continue to provide what has been the missing ingredient in Sunderland's make-up, namely the financial muscle necessary to compete at the highest level."