NIALL Quinn is assembling a consortium to make an approach to take control of Sunderland Football Club "sooner rather than later", according to sources close to the player.

A spokeswoman at the Stadium of Light last night told The Northern Echo: "The club has not received any approach."

But sources close to Mr Quinn maintained the former Sunderland striker was extremely serious about putting together a package that would help to revitalise the struggling club.

He is understood to be seeking investment from other parties in the hope he can launch an official bid for the club.

A source close to the Irishman said: "He is hopeful but nothing is cut and dried.

"In saying that, he is confident an outcome, good or bad, will be reached sooner rather than later.

"If he gets control, Niall is optimistic and enthusiastic about rejuvenating the club's fortunes."

It is widely believed Mr Quinn, and whoever he gets on board, will have to find about £60m if they are to successfully claim ownership.

About £40m of that would be to pay off the club's stabilised debts and a further £20m would have to be paid to meet the purchase price.

Mr Quinn, who has been installed as favourite to be the club's new manager, has been saddened by the demise of Sunderland.

There have been successive demonstrations after each of the last two home games outside the main entrance at the Stadium of Light and a third is planned for when Fulham arrive on April 8.

Chairman Bob Murray owns 56.8 per cent of the club's shares.

After 20 years at Roker Park and at the Stadium of Light, he has recently reiterated that he is prepared to sell if the price is right.