Last updated on .From the section Sunderland

Boardroom changes look to be on the horizon at Sunderland's Stadium of Light

Prospective Sunderland owner Stewart Donald says he has a "spectacular deal" to take over the League One-bound club.

Businessman and Eastleigh chairman Donald is awaiting English Football League approval to buy the Black Cats as part of a consortium.

"If the deal's allowed to go through, it will be a spectacular one and a dream," he told BBC Radio Solent.

"I've had offers from other clubs and never taken them seriously. Sunderland is a different kettle of fish."

If approved, an "international consortium of football investors" led by Donald will buy Sunderland from Ellis Short, who has cleared the club's debts.

"There's a lot to sort out on the financial side still," said Donald. "But straight away it really whet my whistle.

"Previously, when the interest first emerged, I was a makeweight in a deal. But in football things can change pretty quickly.

"I've just got to be part of this. It's an unbelievable place to play football. I've got the funds required to give it a go. Hopefully it will go through as I just can't wait."

'Unfinished business' at Eastleigh

Donald has put Hampshire National League club Eastleigh up for sale as a result of his interest in Sunderland, but does not want any money for the club he took over in 2011.

He helped them gain promotion from National League South, but admits not achieving the step-up to the EFL will "always feel like unfinished business".

"The rest of what I've done around the club should allow them to carry on with a budget that will be in the top five or six of that league," he said.

"Revenue has increased five-fold since I arrived and they're really able to compete in the National League even if I'm not there."

Stewart Donald has invested more than £10m in Eastleigh since 2011

Donald has already received interest in Eastleigh, but will only sell to someone he believes can "safeguard" the club in the future.

He claims their income is now between £2.5m and £2.7m compared with £500,000 in 2011.

"I need to see the whites of their eyes before I sell," he said. "Realistically, I will probably only sell to people I know."

The Spitfires finished 14th in the National League this season after a campaign in which Andy Hessenthaler replaced director of football Richard Hill as manager.

Donald familiar with League One

Donald owns Oxfordshire-based Bridle Insurance and is a lifelong supporter of Oxford United.

He was part of a consortium of local businessmen that failed to take over Oxford in July 2014.

The following year, he did a deal to purchase 10% of the League One club, but is understood never to have actually acquired it.

Stewart Donald's company was previously the main shirt sponsor of Oxford United

Sunderland and Oxford will be in the same division next season following the Black Cats' relegation from the Championship.

Should Donald become the new owner, top of his to-do list will be the search for a new manager after Chris Coleman was released from his Sunderland contract on Sunday just seven months since taking charge.

"I can't say too much at this stage other than it will be a challenge," he added. "It's a big job, but you've just got to live it and breath it and I'm unbelievably excited."

Stewart Donald was speaking to BBC Radio Solent's Ian Wilding.