Sunderland's interest in appointing Steve Bruce as their new manager receded today as Ellis Short's buy-out was confirmed. On the day it was officially announced that the Irish-American businessman is to take complete control of the club in which he bought a 30 per cent stake last year, the Black Cats took a step back in their efforts to find a replacement for Ricky Sbragia.

Wearside woke to claims that a compensation package, amounting to anywhere between £3million and £5million, which would allow Bruce to leave current club, Wigan, had already been agreed.

Sunderland were not commenting publicly on the suggestions, but privately insisted they were nowhere near that stage, and their stance hardened as sources in the north-west prematurely claimed the Black Cats had been given permission to talk to the former Manchester United defender.

It is understood contact between the two clubs had been made, but that talks were not as advanced as had been suggested.

As a result, the Wearsiders, while not necessarily ruling out Bruce, are exploring alternatives having once again been inundated with applications for a job which has become even more attractive as a result of Short's decision to push through his plan to take over from the Drumaville consortium at the Stadium of Light.

However, chairman Niall Quinn has repeated his insistence that the club will take its time.

He said: "It goes without saying that the search for a new manager has started and we will take whatever time is necessary to make this important appointment.

"It is imperative that we find somebody who will raise the bar and introduce a whole new mentality to our dressing room."

For his part, Bruce remained diplomatic when asked about the speculation.

He told Sky Sports: "All the speculation, you can't stop that.

"It's flattering, but I am very, very pleased with what's happened with us and pleased with what's happening in the future, so we will see what develops."

For Quinn, however, there was cause for celebration today as he hailed Short's takeover as a significant step on the road to taking the club to the next level following their ultimately successful, but nailbiting fight for Barclays Premier League survival.

He said: "This is fantastic news for the club.

"Ellis has already shown tremendous commitment to date, but today's announcement opens the door for a new era at the Stadium of Light.

"I first met Ellis at the Ryder Cup in 2006 and he was immediately interested in the Sunderland story and what we were trying to achieve.

"He's an avid sports fan and caught the football bug following his move to the UK 10 years ago, and is now a huge fan of the Premier League.

"Even before today, he has personally invested more in Sunderland than all previous chairmen, directors and owners combined in the club's history.

"Late last summer, he injected tens of millions of pounds to fund our new signings and the resultant increased wage bill.

"In going forward, as long as we invest the funds wisely, he will continue to provide what has been the missing ingredient in Sunderland's make up, namely the financial muscle necessary to compete at the highest level.

"And Ellis' involvement to date also enabled us to turn down a club record bid of up to £20million for Kenwyne Jones from Tottenham Hotspur in the January transfer window.

"In addition, he enthusiastically supported the decision to introduce industry-leading reductions in the cost of all season tickets for thousands of fans for next season."

Short funded last summer's £30million-plus spending spree and is ready to bankroll another recruitment drive this time around, although the club has played down talk of a £200million windfall.

However, Quinn, who will remain as chairman, was also quick to praise Drumaville's contribution to the club's rebirth in recent years.

He said: "Without them, Sunderland would not be where it is today and Ellis Short would not have become involved."