Ellis Short has admitted his relief that Sunderland avoided relegation on the final day of the Barclays Premier League season.
The Texas-based billionaire was among the crowd at the Stadium of Light on Sunday when despite a 3-2 defeat by Chelsea, the Black Cats managed to secure their top-flight status.
He confirmed his decision to complete a 100% takeover of the Wearside club on Wednesday, but later revealed he did so as a relieved man. "Probably like every other good Sunderland Football Club fan, I'm ecstatic and if I had to pick one word, it would be 'relieved', relief that two months of fear and nervousness is over," Short told the club's official website.
"This club has a lot of reasons to stay up. We have got a lot of good plans for the future and relegation would have been horrible, so I'm relieved and happy."
Short funded Sunderland's transfer business last summer and is ready to provide the cash for a new manager to strengthen the squad once again.
The Wearsiders are currently considering a series of candidates for the post vacated by Ricky Sbragia on Sunday evening with Steve Bruce the early favourite, but but by no means a certainty get the job.
However, Short insisted chairman Niall Quinn will run the football side of things while he remains very much in the shadows.
He said: "Niall runs the club. Niall is a very smart footballer, very smart about the Premier League and is a wonderful chairman of the club who knows more about football than I ever will, so I will be in the background and Niall will be running the show.
"I will be involved in things like finance. With me coming in, you get all of these other good ingredients that are already in place at the club and can add to that a streamlined decision making process, a streamlined board and with some financial ability to make some moves - and we think that is the missing piece that this club has needed."
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