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The offer will be 117 pence for each Sunderland share, valuing the club at approximately £10m.
Quinn had this to say: "I am personally delighted, on behalf of my consortium company Drumaville, to be in a position to present this offer to the shareholders of SAFC. We believe this heralds a new beginning for Sunderland, but it's only going to happen if everyone comes together in a joint effort.
"My consortium are buying into the wonderful potential at the club and wish to help enable it to regain the status it truly deserves."