Sunderland new owner Stewart Donald (right) and PR Charlie Methven during the press conference at the Stadium of Light, Sunderland.

On the day Stewart Donald completed his takeover of Sunderland he immediately sat down with the press to outline his plans for the club.

Donald spoke at length about his ambition for the club while also keeping in check any unrealistic expectations fans may have of the new regime.

Donald told the press: “I am not going to be able to compete with £50-60m transfers. That’s about as liquid as I needed to be. Right at the top end, the Man Citys Man Uniteds, I’m not your man for that.

“Can we get Sunderland back to the Premier League with me in charge? Absolutely. I will have to do things right and I won’t be able to make, and Ellis will have said this, Ellis Short-proportion mistakes. He has written off £125m or something in that region.

“That would hurt me more than it hurts Ellis. But can I get the club back to the Premier League? Absolutely.”

Charlie Methven, who is expected to become a director at the club, spoke about the changes the club can make internally.

He said: “What can Sunderland achieve? The answer is that the sky is the limit with the fan base this club has. The equivalent clubs are not Chelsea or Tottenham.

“The equivalent clubs are clubs like Borussia Dortmund, who understand what kind of club they really are which is a big, serious working class area, passionate about their football club. Do they try to outspend Bayern Munich? No.

“They do invest in their Academy, though, very heavily. They make sure they have a large stadium with accessible pricing and it is absolutely packed out at 60-70,000 per game. That is the model for Sunderland, that’s actually what Sunderland is.

“It is not about trying to compete with Spurs and trying to be the flash guys which, I am afraid, is where it has gone for the past 10 to 15 years. It’s a lack of sense of what this club should be all about.

“And by doing that, we can reconnect with the fans and the fans will see their values represented on the pitch, their values represented in the boardroom by people who really care, who roll their sleeves up and who really believe in hard work.”

He added: “If you’re really going to aim high, for a club with a massive, real working-class fanbase, then that’s the model. “It’s accessible football, packing out the stadium, fantastic academy and when a player gets to a certain level, you can sell him and use the money to keep the project going.”