STEWART DONALD’S proposed takeover of Sunderland has moved a step closer after the Oxford-based businessman completed his sale of National League club Eastleigh.

Donald is heading up a consortium of international investors that have agreed a deal with outgoing Black Cats owner Ellis Short, and the takeover is currently in the process of being formally ratified by the Football League.

However, EFL rules clearly state that one person cannot have a controlling interest in two clubs, forcing Donald to sell his 100 per cent stake in Eastleigh, which he has owned since 2012.

The insurance specialist has been in talks with a number of interested parties, and has agreed a deal to sell Eastleigh to a group containing members of the current board.

A statement released by Eastleigh FC said: “Eastleigh Football Club can confirm that owner and majority shareholder Stewart Donald has agreed to sell the club to the existing board members, along with a number of senior management staff currently working for the club.

“The club has been in discussion with the National League regarding the change of ownership, and we are now awaiting confirmation of their approval before matters can be concluded.”

Donald has invested more than £10m into Eastleigh, and while he failed to realise his stated ambition of guiding the club into the Football League, he oversaw a period of sustained growth that saw the club increase its average attendance significantly and rise into the top half of the Conference table.

He will now turn his attention towards Sunderland, and is hoping to receive formal ratification from the Football League in the next few days.

With the start of the new League One season less than three months away, he still needs to appoint a new manager and address the contractual situation that could see up to a dozen players leave as they reach the end of their deal or come to the conclusion of their loan agreement.

Speaking on Twitter, Donald said: “I don’t know (when the approval will be rubber-stamped), but the EFL are responding quickly all the time and it seems to be moving on well.

“They are on it. We will have to see – fingers crossed it won’t be too long before we all know. Things are moving on at pace behind the scenes. (The) EFL are responding quickly, so good on them. Hopefully, (there will be) some news soon. Fingers crossed for a quick conclusion from here.”

Meanwhile, Crystal Palace and Wolves are both pondering a summer move for Joel Asoro, with the teenage youngster having refused to sign a new deal at the Stadium of Light.

Asoro, who starred as Sunderland beat Wolves on the final day of the season, is about to enter the final year of his current contract on Wearside.

He refused to sign new terms when they were offered at the start of the year, and Sunderland’s incoming owners will not want him to leave for nothing next summer.

As a result, if they are unable to tie him down to a new agreement, they will allow him to leave this summer for a fee of around £2m.

Wolves are interested as they plan for their return to the Premier League, while Crystal Palace scouts are understood to have watched Asoro on a number of occasions this season.