Sunderland legend Kevin Phillips fears Black Cats fans may not see new owners at the Stadium of Light any time soon.
Current chairman Stewart Donald is looking for new ownership to take the club on but has seen two potential investors - Mark Campbell and the MSD Partners - fail to follow up their interest in the club.
Recent reports in the Daily Mail and The Times, based on leaked documents claim, that Donald has written off a £20.5m hole in the club's accounts - which is said to represent funds from a parachute payment due following the club's relegation from the Premier League - as an 'exceptional operating expense'.
And Sunderland goalscoring hero Phillips fears that may have put potential new owners off - coupled with the fact the club are facing another season in League One should the campaign be concluded without fixtures being played.
Speaking to Football Insider, Phillips said: “I cannot see a takeover happening anytime soon. From what I gather and what I hear there has been a few interested parties that have pulled the plug. They have done their due diligence and I suppose it is not for them.
“There is probably more going on behind the scenes than is known.
“I worry for the Sunderland supporters and I feel sorry for them having to go through this again.
“There is the potential of the season being cut short now, another season in League One and you wonder where it leaves the club. I really feel for the supporters.”
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