IT was the epitome of a double-edged sword.

Amid all the doom-laden talk of redundancies and squad clearouts, Gary Megson was the bearer of happy tidings for Sunderland.

"Leicester got themselves into financial trouble, but because the players were on such big money they couldn't move them on," the West Bromwich Albion manager said.

"Now they've been promoted, they'll be pleased they couldn't do that. And I think Sunderland could be in a similar situation."

Let's break down what Megson is saying here. Basically, his comments read thus:

The good news for Sunderland is their squad will remain largely intact and they will have a great chance of bouncing back into the Premiership.

The bad news for Sunderland is their squad will remain largely intact - and their present £26.6m debt could spiral out of control.

So, while the fans may be delighted with the club's transfer dealings this summer, their bank manager might not be quite so content.

Certainly, the presence of Thomas Sorensen and Tore Andre Flo on the bench on Saturday suggested their Sunderland careers could be coming to a close.

George McCartney, too, has a much brighter Wearside future than Talal El Karkouri, who might make way for the Northern Ireland defender at Manchester City today.

Mick McCarthy left the Stadium of Light adamant that Sunderland deserved to win rather than succumb to an 11th straight Premiership defeat.

But listening to Megson look ahead to next season after his team's relegation was confirmed, one began to believe West Brom were in a stronger position to tackle the Nationwide League than Sunderland.

He said: "We're in a position where we can do what we want to do, as opposed to being forced to do things.

"Sunderland have been doing major things for a long time, spending millions of pounds, and they have a major wage bill.

"We haven't done that. We came into the Premiership with a wage bill of £3.5m; we don't need to move good players out of the football club just to keep the finances under control.

"We haven't got any financial problems as such. Now we can do what we want to do."

If only Sunderland could say the same.

And their cash crisis would have got a whole lot worse had Kevin Phillips been seriously injured just before half time.

The Stadium of Light moneymen took a sharp intake of breath when Phillips went down in a crumpled heap after a challenge from Sean Gregan.

Two minutes later, a huge sense of relief swept around the ground when the £5m-rated striker returned to the fray.

McCarthy has already begun the Herculean process of restructuring his squad for the rigours of a demanding Nationwide League season.

A number of stars have been told they will be on the transfer list; others know they will be released this summer.

If the Sunderland manager needed any advice, Megson outlined the type of player that will prosper in the battle to return to the Premiership.

He said: "As long as my team are honest and they display the characteristics we know they've got, they will be more than good enough for the First Division.

"We know we won't have prima donnas who will turn up their noses at the First Division.

"If they show endeavour, and their workrate stays at the same level, we'll have a chance of going up."

Sunderland's defence looked more secure with Jody Craddock in the team, though McCarthy will struggle to keep hold of the centre-back.

In midfield, Sean Thornton flitted in and out of the action, and he will be a better player next season for this Premiership experience.

Kevin Kyle may not have recaptured the form he showed against Chelsea, but Marcus Stewart was always dangerous against West Brom's defiant backline.

Stewart was twice denied by Russell Hoult in the first nine minutes, and the striker saw another shot saved shortly after half time.

By then, Sunderland were 2-0 down - Derek McInnes scoring twice in the space of four minutes to take the sting out of the hosts' bright start.

Eventually, Stewart got his reward, pouncing on Hoult's mistake when he fumbled Thornton's long-rage drive to halve the arrears.

But West Brom hung on for only their sixth win of a miserable League season that has been heading for relegation for some time.

McCarthy is refusing to be maudlin, however, and insists there are many reasons to be cheerful.

"The result was tough. The club is on its backside, and I've been delighted with the response of the players under the circumstances," he said.

"Was I watching that game through rose-tinted spectacles, or were we the better team? Didn't we deserve to win?

"If West Brom are one of our main rivals next season, and we can play as well as that and create as many chances, I'll be delighted."

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