SUNDERLAND last night moved to reassure fans they remain focused on reclaiming a place in the Premiership after announcing the company's intention to withdraw from the stock exchange, writes PAUL FRASER.

The Black Cats face another season outside the top flight following May's defeat to Crystal Palace in Division One, now known as the Championship, play-offs.

But Sunderland insist the cost of that defeat and failing to earn a place among this country's elite is not the reason why the PLC are choosing to cancel their listing on the London Stock Exchange.

Vice-chairman John Fickling explained the judgement had been made in an attempt to strengthen manager Mick McCarthy's hand ahead of another season in the Football League.

"This is not a decision which has been made overnight. It's been coming for a while. If we'd stayed in the Premiership we would have still thought about it," said Fickling.

"We are a Championship club and we have been trying to tighten our belts for the past 12-18 months, while putting as much as we could into team affairs.

"All we are here for is to get back into the Premiership and there's a cost of enlisting in the stock market.

"It's the right time for us to do this because there aren't any matches being played and our bankers, Barclays, are fully behind us and can see the advantages in terms of cutting costs and stabilising the business."

Chairman Bob Murray's stake at the club, which peeked at £22.6m, was first valued at £18.8m and is now worth just £1.2m.

And Sunderland believe it is figures like this that reveal why it is no longer beneficial for clubs to opt to stay on the stock exchange.

Fickling said: "Bolton have gone down the road we are taking before. Southampton, Sheffield United and Tottenham have gone down a level and I think once teams have digested what we have done there will be a few more who follow.

"There will still be shareholders, we will still be producing the annual accounts, it just means we will be saving a little bit of money."

The decision to float in December 1996 allowed Sunderland to raise the funding to build, and own, their impressive Stadium of Light home.

And now, after revealing the decision to de-list, Fickling insists progress will still be made on the field.

"There will still be one or two players moving on and, hopefully, a few more coming in," said Fickling, who is aware of McCarthy's intention to add at least one more striker to his squad.