Sunderland's owners are already looking to secure a loan ahead of the League One season as the reality of their situation becomes apparent.

According to The Times, reported by the Mag, Sunderland already have major cash flow problem, despite Ellis Short writing off his personal loans to the club.

The lack of cash available has hindered their progress in the transfer market, despite promising new players they've made just one move this summer, a free transfer from the Turkish second division.

The report says they are talking to seven financiers about securing loans and could be looking at loaning up to £8m. Not only do they need money to add to the squad, but they also need to reach a settlement with Jack Rodwell.

The Black Cats are due around £34m this coming season in parachute payments, with a further £15m to follow next season.

However, the Times report reveals that a significant portion of this season’s parachute payment has already ‘been accounted for' to pay off a previous loan.

Former Eastleigh chairman Stewart Donald took over from Ellis Short in May following the club's relegation to the third tier.

The Verdict

All is not rosy at the Stadium of Light and it appears the transfer of Paddy McNair is more crucial than some realise.

Sunderland might be a big draw for players in the bottom two divisions, but that's no use if they don't have the financial clout to compete.

It could be a turbulent season for the Black Cats, especially if they can't find a financier willing to help them out.