Kevin Phillips is worried for Sunderland after it was revealed that any prospective buyers have walked away from a potential takeover of the club.
The former Stadium of Light striker, speaking exclusively to Football Insider correspondent Dylan Childs, fears for the club going forward with another season in League One appearing all but certain.
The Daily Mail revealed this week that potential buyers are walking away from Sunderland due to a £20.5m hole in the accounts.
Stewart Donald reportedly wrote off a £20million debt he owed the club but has claimed he will pay back the amount in “gifts” or “shareholder funds”.
Phillips was very doubtful of a takeover for the Black Cats being completed in the near future.
“I cannot see a takeover happening anytime soon,” he told Football Insider.
“From what I gather and what I hear there has been a few interested parties that have pulled the plug. They have done their due diligence and I suppose it is not for them.
“There is probably more going on behind the scenes than is known.
“I worry for the Sunderland supporters and I feel sorry for them having to go through this again.
“There is the potential of the season being cut short now, another season in League One and you wonder where it leaves the club. I really feel for the supporters.”
Following the latest EFL board meeting it seems likely that the remainder of the League One season will not be played out and be decided on an unweighted points-per-game basis.
Such a proposal would see Phil Parkinson’s side miss out on this season’s play-offs despite being only three points off the automatic promotion spots.
In other Sunderland news, it can be REVEALED that club are in pole position to complete deal for former striker this summer.