SUNDERLAND manager Peter Reid, determined to rebuild his first-team squad during the summer, has found his war-chest boosted by a new multi-million pound sponsorship deal with giant motor dealers Reg Vardy.

The exact value of the two-year agreement was not revealed - the club described it as worth a "seven-figure sum" - but it is bound to help the Wearside boss in his quest for new players after a last-day-of-the-season escape from relegation.

Vardy became Sunderland's shirt sponsors three years ago in a deal worth around £2m - but the new agreement with a company whose annual turnover is £1.3bn is believed to be worth considerably more second time around.

Sir Peter Vardy, chairman of a firm which has 75 dealerships all over the country and sold over 160,000 cars last year, said: "We are reinforcing what had already become a winning partnership with one of the best supported and best-run football clubs in the country.

"I'm sure this sponsorship will provide great benefits for both Reg Vardy's business and Sunderland Football Club over the years to come."

But while Reid is extending his transfer net for new players it looks as though he is set to lose promising young striker Michael Proctor, who looks certain to join Second Division Luton Town.

The 21-year-old has been offered a new one-year deal by Sunderland, who will receive a compensation payment set by a tribunal if they cannot agree a fee with Luton.

Luton boss Joe Kinnear, who was impressed by Proctor's 14 goals while on loan with York City last season, said: "I am trying to sign Michael Proctor and while I have spoken to Peter Reid it looks as though it might be going to a tribunal.

"I know how much money Sunderland want for him and it's a case of trying to sort it bout directly with them.

"He has turned down the offer of a new contract with Sunderland and has indicated he would like to come here."

Sheffield United manager Neil Warnock has also shown interest in Proctor, who has made only one senior appearance for his home-town club, coming on as substitute in a Worthington Cup victory at Everton in November 1998.

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