Chris Coleman wants to stay on as a Sunderland manager despite relegation to League One.
The Wearside club were relegated for the second season in a row on Saturday following their 2-1 defeat to Burton Albion.
The club admitted in a statement shortly after relegation was confirmed that their future hinges on the ownership of the club.
Ellis Short remains in charge but is desperate to sell and has this season done little more than service the debt, which stands at around £100m.
The club were expected to announce their financial figures earlier this month but they have yet to emerge.
Coleman is keen to continue in the dugout but wants to speak to absent owner Short in a bid to raise transfer funds if a takeover does not materialise this summer.
We understand a number of parties have contacted Sunderland with a view to taking over but have failed to reach an agreement with American Short.
Coleman sees relegation as a stain on his reputation but is desperate to get Sunderland back on an upward curve, however, he himself admits that would be difficult with financial restrictions similar to those that he has faced this season.
Regardless of who is in charge at board level, and in the dugout, big changes will take place on the pitch with seven loan players set to return to their parent clubs and a further four out of contract.
High earners such as Lamine Kone, Jack Rodwell, Papy Djilibodji, Wahbi Khazri and Didier Ndong will also be moved on.