​Sunderland owner Ellis Short has indicated that he is willing to sell the club for a cut-price £85m following their relegation from the Premier League this season, according to ​The Sun.

Short has reportedly met with German bidders in London this week, but the club is also subject to interest from an American consortium. 

Although the Black Cats owner is ready to sell for a reduced price, the Germans have so far only offered £50m. Short will give both prospective takeover groups until the end of the month to make an offer he deems suitable, otherwise he will stay on at the club.

Short had initially instructed his chief executive Martin Bain to continue compiling a shortlist to replace the departed David Moyes, but the club have recently announced they have postponed the search for a new manager while the negotiation process continues.

Restricted finances for transfers are thought to be part of the reason behind Moyes' departure and it is likely that the incoming manager will only have around £20m to work with while Short is at the helm.

Despite the recent sale of Jordan Pickford to Everton for an initial £20m, Short wants to use the money to help reduce the clubs debts and as a result will not extend the transfer budget any further.