STEWART Donald is confident he can provide the next Sunderland manager with a competitive budget as he awaits approval for his takeover bid.

The Eastleigh chairman has agreed a deal on behalf on an international consortium with current owner Ellis Short and is ready to assume control at the Stadium of Light once he has received the green light from the English Football League.

He has admitted his excitement at what lies ahead as he looks to revive a club which has dropped from the Premier League to League One in the space of two seasons.

In an interview with BBC Radio Solent, Donald said: “I’m confident that I can give Sunderland a competitive budget. It will take a bit of work. I can’t really comment, but I have to say, I’m hopeful that I can get through the EFL process. I do white collar jobs, there’s nothing in my history that says I shouldn’t pass that. I’ve got the funds required to give that a go, hopefully they’ll see that as I go through the process.

“Who wouldn’t be excited about Sunderland? It’s a challenge, I can’t say anything about it other than to say that it is a big job. You’ve just got to live it and breathe it, and I am unbelievably excited about it. It is an unbelievable place for football. I hope it goes through because I just can’t wait.”

Donald, who has put Eastleigh up for sale, can make no hard and fast decisions until he receives approval, but wheels are already in motion as the club looks to replace manager Chris Coleman.

Former Black Cats striker Kevin Phillips, currently on the coaching staff at Derby, has emerged as a credible candidate since the Welshman’s departure was announced on Sunday, while Mick McCarthy, Michael Appleton, Chris Wilder, Gary Bowyer and Paul Cook have all been touted as contenders.

However, Steve Harper, who spent the second half of the 2015-16 season at the Stadium of Light, has admitted his disappointment that Coleman was not given the chance to work under the new regime.

He told Press Association Sport: “It’s obviously good news about the takeover and the club being debt-free is a big bonus, but the loss of Chris Coleman, it’s tempered a little bit by that.

“People say his record wasn’t great, but given the circumstances he had to work under, it was a difficult time for him.

“He certainly was making all the right noises, I think he’d made that connection with the fans and it’s a shame he’s not been given the opportunity to bring them back under new ownership.”

Former keeper Harper’s time on Wearside coincided with Sam Allardyce’s recovery mission, and he admits he did not anticipate what has happened since his departure.

He said: “I was only there as a bit of insurance for a few months, but I did enjoy it and I left a club in the Premier League on a high under Sam Allardyce.

“But very, very quickly, things have changed and double relegation, I didn’t see that coming.”