"In Sunderland, we have deliberately chosen a club with a large fan base that is in a sound financial state, and we are keen to work with existing shareholders to continue to build on the momentum achieved through the recent promotion to the Championship," the statement read before they added that discussions were still in the works and are "unable to provide further information" at the moment.
\u201cExclusive statement from \u201cThe Fans Together\u201d on their investment in #SAFC\u201d
Fans of the club didn't seem too pleased with this announcement and took to Twitter to share their sentiments.
One wrote: "Can I cancel my season card? Seriously though, this does not sound in any way attractive or appealing. So they have no money and have no high-level experience. Hard MADROX renamed to TFT??"
"What fresh hell is this?" another added, while a third wrote, "Is this a joke?"
Someone else who believes the club doesn't do things "straightforward" chimed in with the following: "This sounds terrible. Asking for fan-led ownership when there's a cost of living crisis and most people are skint! Sunderland never [does] anything straightforward."
Following 41 per cent sale of the club to Kyril Louis-Dreyfus, Sunderland's 24-year-old chairman, Donald and Methven announced they would take a step back to attempt to offload their own stakes.
Uruguayan businessman and politician Juan Sartori still retains 20 per cent.
The Athleticalso discovered that the crypto group was present for the Black Cats' 2-0 Wembley win against Wycombe weeks ago, which ensured promotion back to the second tier after a four-year hiatus.
Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.