Sunderland are set for a major cash boost in their bid to escape League One with an American consortium ready to take control of the club.

Michael Dell - the world's 25th richest man - has been confirmed as a minority investor, opening the possibility of a more prominent role in the future.

He is the founder of Dell Technologies and is said to be worth around £28.6billion.

Michael Dell is part of an American consortium hoping to complete a takeover of Sunderland

But, for now, Dell's associates Glenn Fuhrman, John Phelan and Robert Platek are funding and fronting the takeover as part of their MSD Partners enterprise.

Current owner Stewart Donald will maintain a small stake, and both he and executive director Charlie Methven will continue to be part of the running of the club.

The deal is likely to see the pair receive a sizeable profit on their initial outlay. They bought the club from Ellis Short in 2018 and used some of the club's parachute payments to fund the purchase.

But the new investment is sure to strengthen the club on and off the pitch.

Jack Ross' side missed out on promotion to the Championship in May after defeat in the play-off final and currently sit sixth in the table.

In an interview last week, Donald confirmed a takeover was close following talks with investors who could help the club to compete over a long-term period.

Dell, ranked by Forbes as the world's 25th richest man, would be a minority investor

WHO IS MICHAEL DELL? Michael Dell is the founder and CEO of Dell, one of the world's largest technology companies, best known for producing computers and laptops. Away from tech, Dell is also an active investor in sports teams, having pumped money into Major League Baseball team Miami Marlins. Advertisement

'We've got a preferred partner,' Donald said last week. 'Someone that we think can really do what we've talked about doing and come with us to take the club to the next level. I hope that we can get the deal over the line because I think it's a hugely exciting deal for all the right reasons.

'For taking the football club on, as we have said we wanted to and in the way that we want to.

'We don't want people who talk a good game, say they have got money and then don't back it up or people who have money but don't know how to spend it.

Stewart Donald is ready to sell his stake to MSD Partners, just 12 months after buying club

'We want it structured, sustainable, and the people we are talking to are talking long, long term investment, long term plan, not built on sand and I'm hopeful that as much as anything now that we have got to persuade them to come with us on this journey.

'Where we are is absolutely fine, to keep competing as we are and be financially safe but I think we have now attracted people who can do what we've said.'

Before the takeover is completed, the MSD consortium will have to pass the EFL's fit and proper person's test.