SUNDERLAND chairman Bob Murray has moved one step closer to taking full control of the club after buying out BSkyB's five per cent stake.

Murray also offered to buy up fans' shares after securing the TV broadcaster's chunk in the club.

The deal means the long-serving chairman now owns a 42.39 per cent stake in the Black Cats.

BskyB has sold the shares, which it bought six years ago, at 31 pence each - resulting in a loss of over £6m.

Under city financial rules, Murray must now offer to buy the rest of Sunderland's shares, the majority of which are owned by 4,000 shareholder fans, at the same price.

It would cost him just over £1.5m to buy the remaining shares, five per cent of which are owned by former Sunderland manager Peter Reid.

Yesterday's deal, worth around £125,000, is seen as an attempt by Murray to gain total control of the club.

He said: "I believe that this offer, assuming it leads to my interest increasing to a clear controlling shareholding, will strengthen the company and remove the potential for that type of uncertainty.

"Furthermore, it could improve the club's ability to facilitate external investment should the opportunity arise in the future."

He said reducing the number of shareholders would help avoid the kind of internal divisions and infighting seen recently with Malcolm Glazier and Manchester United.

However the 58-year-old added he would "understand and support" fans who wanted to hang on to their shares in the club.

He said: "It has been both a privilege and honour to be chairman of Sunderland AFC and I have great empathy with the fans.

"I would be pleased for supporters to sell all or none of their shares or alternatively part sell their shares in order to retain a stake in their club.

"I have been fortunate in life and as chairman of the club I have also been able to give something back to the community."

Mr Murray said this latest move had come about because BSkyB's contract with the club came to an end last month and both sides wanted to ensure a clean end to the partnership.

The buyout will bring to an end a four-year media partnership which saw the broadcaster invest £13m in the club - money which helped fund the Academy of Light.

Football analyst Vinay Bedi, from investment managers Wise Speke, said the chairman's attempts to take overall control was a boost for the club's long-term future.

He said: "I think it has to viewed as good news. It gives the club much more opportunity to focus on its primary objectives - getting back into the Premiership and reducing the debt.

"Putting the power in one person's hands means you can make decisions much quicker and you avoid the danger of infighting. I think Mr Murray is looking more towards the model of Steve Gibson at Middlesbrough.

"Some people will suspect his motives but since he takes no salary or dividend so I think it's fair to say he has the best interests of the club at heart."

In November Sunderland announced end of year results, declaring a losses of £1.2m, compared with £20.6m the previous year.

The club's debt has now been stabilised at between £35m and £40m after it suffered millions of pounds in lost revenue following its relegation in 2003.

The club suffered a £10m loss in media revenue, resulting in a 33 per cent fall in turnover.

Former manager Reid was heavily criticised for spending £18m on players who former chairman Bryan Sanderson said had added little or no value to the club.

The club, which became a plc in 1996, de-listed from the Stock Exchange in August last year.

Cost-cutting measures, including cutting the wage bill in half and laying off nearly 100 staff, including 15 players, helped to reduce operating costs by more than £20m.

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