HOWARD WILKINSON will manage Sunderland in a financial strait-jacket.

Chairman Bob Murray has admitted that the transfer kitty is empty at the Stadium of Light after Peter Reid splashed out £22m in ten months before being sacked on Monday night.

Wilkinson, who led Leeds United to the title ten years ago, was yesterday unveiled as the surprise choice to succeed Reid.

In another shock move, the little-known Steve Cotterill has quit First Division Stoke City to become Wilkinson's assistant.

Yorkshireman Wilkinson, 59 next month, has agreed a three-year deal to return to management after five years as the Football Association's technical director, during which time he had two spells as caretaker boss of England.

The appointments have largely been greeted with dismay on Wearside, but Murray insisted that Wilkinson always topped the club's wanted list, despite a strong link with Republic of Ireland boss Mick McCarthy.

Sunderland are 17th in the Premiership, just outside the relegation places and precisely where they finished last season.

But Murray made it clear to Wilkinson as soon as they opened talks that he must drag the Black Cats out of the morass with his existing resources.

Murray's words were damning of Reid's transfer-market manoeuvres in the past year.

He said: "We spent £22m bringing in ten players over the last nine or ten months, and Howard and Steve know there's no money available.

"On top of that, we failed to sell any players last summer.

"Howard and Steve both have the same coaching qualifications and we are building the Academy of Light, the best in Europe, and these guys know how to make that work. They are very much modern thinking.''

Wilkinson confessed: "When I met the chairman to talk about the job on Tuesday, he spent ten minutes giving me the facts, and among the first was, 'I'm going to level with you, there is no money to spend.' I accepted the job on those terms.

"It's up to us to change the situation and, of course, I believe the players here are good enough.

"I think the players have under-achieved until now, which is unfortunate for Peter. Football is a fantastic friend, but it can also be a vicious enemy. The players are better than their results suggest.

"I haven't seen Sunderland live this season - there's a joke there, but I won't make it!

"You don't need to be Einstein to realise that over the last 40-odd games, we haven't scored enough goals.

"The objective here is very clear. We have to get away from that relegation area as quickly as possible - it ain't good for my health or anybody's health.

"Long-term I want to be successful, but we are where we are in the League because we deserve to be and we have to get away from that position.''

Wilkinson added: "It's been a whirlwind three days. I was like a kid on Christmas Eve on Wednesday night. I can't remember the last time I've felt as excited as I do at the moment.

"When the chairman rang on Monday night, as far as I was concerned it wasn't a question of 'if' but 'when'.

"Everything just fell into place very quickly. I spoke to the chairman through Tuesday and rang Steve.

"He made his mind up about as quickly as I did, which for me was about ten seconds.''

Wilkinson plans to pick Reid's brains about the team he has inherited. "I think the club, and the fans, owe a lot to Peter and the chairman for what they've done here,'' said Wilkinson.

"They've gone from being a club in the backwater to putting themselves firmly where they should be, and our job is to keep them there. I haven't spoken to Peter, but I will be speaking to him.

"I don't know the chairman that well, but I've watched the club over the years. Things off the pitch have been done properly and things on the pitch, for the most part, have been done properly, so I knew it was a fantastic opportunity.

"I don't know how the fans will react to my appointment. When I was at Leeds, we used to say coming here was like entering the lion's den - we didn't call them the Black Cats. I know the fans are passionate about this club and I think what matters to them is results.''

Asked if the fans would be excited by the arrival of Wilkinson, Murray added: "The appointment excites me - and I'm a Sunderland fan.

"With events of the past months, thoughts had gone in the direction of who we would want and Howard was our only choice, but we didn't meet Steve until Tuesday.''

Wilkinson yesterday held talks with three of the senior professionals - player-coach Niall Quinn, who has held the reins since Reid's exit, skipper Michael Gray and midfielder Claudio Reyna.

"At the moment, Niall has a playing contract,'' said Wilkinson, who maintains he has no immediate plans to augment his backroom team.

"Four other members of staff have gone with Peter, and at the moment we are vastly under-staffed. So it's all hands to the pump.''

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