SUNDERLAND took a huge step towards financial security last night when their millionaire players agreed to defer some of their wages until next year.

The Nationwide League new boys, whose debts were revealed at £26.6m in January, yesterday put the finishing touches to a deal with the Professional Footballers Association that will see players, club directors and senior management put payment of their full salaries on hold.

Sunderland refused to confirm how much money would be saved in the short term by the implementation of the scheme, though it is understood every individual affected will have the same percentage of their wages withheld.

Chairman Bob Murray and vice-chairman John Fickling had already alleviated Sunderland's financial problems by deciding not to take a wage from the club from April 1 onwards. The Black Cats have also eased their cash crisis by the sales this summer of Thomas Sorensen, Gavin McCann, Jody Craddock and Bernt Haas for a total of around £6.5m.

To underline the dramatic fall in income caused by Sunderland's relegation, they will receive £10,000 from Sky TV for showing today's game at Nottingham Forest live; had the televised fixture been in the Premiership, they would have been paid £600,000.

Murray said: "I think the fact that players, directors and senior management have come together and agreed to the deferral says an enormous amount about them as people and their personal loyalty and commitment to the club.

"It's tremendous that so many people at the club have willingly agreed to assist the club in this way.

"The players, football management and senior executives at the club all understand the reality of our situation and what needs to be done in the coming months.

"It's inspiring and heartening to see everyone working so closely together and with such a great team spirit, so that the club can move forward positively again.

"I feel incredibly grateful to everyone that has been so wholehearted and unreserved in their support and rallied to limit the damage of relegation for the club.

"As I've stated previously, we've been working on broad financial restructuring for several months now to adjust to the realities of life outside the Premier League.

"To do this, it was important that we acted early and decisively. Fundamental to this has been agreeing a strategy that we can deliver.

"We have to make a considerable financial adjustment, but we will be strong enough to do that."

Last season, players at Leicester City, Derby County, Watford and Bradford City agreed to a wage deferral programme after their clubs ran into financial trouble.

Mick McGuire, deputy chief executive of the PFA, said: "We've been in discussions with the club throughout the summer and I can only applaud the players and non-playing staff for their commitment in ensuring Sunderland can move forward in such a positive manner."

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