It is believed that the consortium's period of exclusivity ends this week, after which current chairman Bob Murray would be able to hold negotiations with rival bidders. The Quinn bid, however, is known to be Murray's favoured option and talks are described as being complex but advanced. The Quinn consortium has achieved the backing of the majority of Sunderland supporters, many of whom have voiced frustration that the deal has not yet been struck.

Murray this week wrote to the club's season ticket holders urging them to renew their tickets in advance of the proposed takeover.

Sections of the club's support had threatened not to renew their season tickets until the Quinn takeover was confirmed. Confirming that talks with the former Irish international are at an advanced stage, Murray stated in the letter:

"we cannot wait for the outcome of this process before commencing season ticket renewals".

Although he has not yet formally taken control of the club, Quinn is also believed to have held talks with former Celtic manager Martin O'Neill about taking control of the team. O'Neill is known to be Quinn's first choice for the vacant manager's job, although he faces stiff competition from local rivals Middlesbrough, who have held talks with the Northern Irishman about taking control of team affairs at Riverside Stadium.

O'Neill is understood to have met with Middlesbrough chairman Steve Gibson on Friday, just hours after Terry Venables ruled himself out of the running for the job. Middlesbrough, who are in the premiership and were defeated in this season's Uefa Cup final, are favourites to land O'Neill ahead of relegated Sunderland.

Quinn hopes to attract O'Neill with promises of funding to build a team capable of returning to Premiership at first attempt. However, with the Middlesbrough job available and his takeover talks incomplete, Quinn may be running out of time to lure O'Neill to the Stadium of Light.