1. ITV Report

SAFC new owner Stewart Donald: "The football club is for the fans"

Stewart Donald Photo: ITV News Tyne Tees

Sunderland Football Club's new owner Stewart Donald has held a press conference, and told the media - "The football club is for the fans" and that he is "Unbelievably excited, but nervous."

Stewart Donald has guaranteed a "pretty hefty" budget for Sunderland's League One campaign after finally completing his takeover of the Black Cats.

Donald confirmed he paid former owner Ellis Short £40million, as well as the guarantee to wipe out the club's existing debt, as part of the deal which has now been ratified by the English Football League.

Donald also confirmed that the club hope to be in a position to announce their new manager within the next seven days.