Sunderland tonight confirmed they have entered into talks with a consortium headed by former striker Niall Quinn.
The club announced to the Stock Exchange that discussions over a proposed take-over bid, which has been the main topic of conversation on Wearside for weeks, are underway.
A statement issued through the club's official website, www.safc.com, read: "Further to the announcement on 28 March 2006 by Bob Murray, chairman and controlling shareholder of the company, stating he would be willing to consider a change of control of the company, the Board of Sunderland Limited confirms that it is in discussions with a consortium of private investors led by Niall Quinn that may or may not lead to an offer for the company being made."
Former Republic of Ireland international Quinn confirmed he was putting together a consortium to make a bid for the club last week after months of speculation.
However, he previously insisted that no approach would be made until all the arrangements were in place to put a genuine proposal to Murray.
The beleaguered chairman has indicated his willingness to listen to offers on more than one occasion after finding himself the target of repeated criticism as the club headed back into the Coca-Cola Championship following promotion a year ago.
Many fans blame him for not releasing the purse strings last summer to allow manager Mick McCarthy, who has since left the club, to build a squad capable of surviving in the Barclays Premiership.
