Quinn plays down Black Cats’ losses

SUNDERLAND chairman Niall Quinn has revealed the club’s latest accounts will show a loss – but only because of their investment in the team.

The audited figures are due to be released in the next few weeks, but Quinn and chief executive Steve Walton insist the Black Cats remain on a firm financial footing with owner Ellis Short having converted a £48 million (€53m) loan into shares last summer.

Quinn said: “We are about to release our audited figures in the next few weeks and I’m happy that will provide more enlightenment for our fans.