Sunderland looked destined to be taken over this summer as multiple parties have reportedly registered an interest in buying, but former player Kevin Phillips thinks that recent events have thrown a spanner in the works.

What did he say?

Stewart Donald listed the Black Cats for sale at the beginning of January after fans called for him to go a few weeks prior to that, and having admitted he'd never stay beyond his welcome he stayed true to his word and began the search for interested parties.

He seemingly found potential buyers, too, and stated that he hoped to have a deal in place before the end of February.

That never came to fruition but there was still some groups heavily linked with purchasing the club, though of course it is difficult to gauge whether that exists given the current climate.

Phillips has given his assessment of the current situation, and it doesn't make for good reading for Black Cats' supporters.

Speaking to Football Insider, he said:

"I am pretty sure there are still discussions because business is still going on. Whether there will be an announcement before the season kicks off I doubt.

"Nobody knows how long this is going to take and where it is going to take us. So, to commit to buying a football club at the moment, I cannot see it happening.

"I do not think selling is at the forefront of the owner’s mind right now. He will just be concentrating on sustaining financial stability over the next six months or however long it will be."

Long-term impact

Though Sunderland turned their form around at the same time Donald announced his decision to sell the club, there will undoubtedly still be fans left disgruntled if he remains at the club next season.

In fact, if Sunderland fail to achieve promotion the animosity towards the owner could be a lot greater than that, and for the sake of supporters, the long-term future of the club and indeed Donald himself, it is best if he departs sooner rather than later.

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Phil Parkinson has been given a difficult task to take the club up with limited spending, and even if he manages to achieve that goal this term he will be in a very difficult position in the Championship next season.

However, as Phillips alludes to the likelihood of a takeover has declined in light of recent events.

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The economy has taken a dramatic turn for the worse and many individuals around the world face an uncertain future in regard to their finances, which means a £35-£40m investment - the current asking price of Sunderland - is likely too large a fee to separate with.

That could leave the north-east outfit with Donald, meaning they may continue to underwhelm supporters in the transfer market and ultimately prevent the club from progressing.

Meanwhile, here are five Twitter accounts to keep on top of if you want to stay informed and entertained in the current period...