Sunderland chief: 'Very limited' funds to strengthen in January

Sunderland manager David Moyes won't be able to spend his way out of trouble in the January transfer window.

The bottom-placed Black Cats have instead been subject to chief executive Martin Bain, who assumed the post in July, tightening the purse strings behind the scenes to address £140 million worth of debt and a £73-million wage bill.

For that reason, Bain can offer Moyes little in the coffers to address a strikeforce that is second-worst only to Middlesbrough, a midfield that is hamstrung by injuries, and a disappointing record of five losses in eight meetings against teams situated in the bottom half of the Premier League table.

"Limited," Bain responded to the Guardian's Louise Taylor when asked of the transfer kitty. "I could probably say very limited with regards to the January transfer window. We're rebuilding and restructuring, it's going to take a while and we're not going to be able to spend to get out of trouble."

There had been signs of improvement lately, as Moyes' lot recorded three wins in four outings - featuring a blossoming strike partnership between Jermain Defoe and Victor Anichebe - before Saturday's sobering 3-0 loss to Swansea City, which is similarly mired in the relegation zone.

That result came after the treatment room added Jack Rodwell to its number, in addition to the long layoffs of Lynden Gooch, Fabio Borini, Lee Cattermole, Duncan Watmore, and Paddy McNair.

But, unlike Sam Allardyce last season, Moyes won't be able to add to his ranks.

"We've reached a point where we can't have that short-term hit to plug the holes in the dam," Bain continued, laying some blame on the fact that only three of the 46 players sold since 2009 made the club a profit.

"Maybe in the past - and I don't want to talk disparagingly of anyone at the moment - we didn't do the right due diligence on players. It's the big buys that come back and haunt you. If you get those wrong, it causes you a big issue. There's so much money involved that you need policies and procedures in place before buying, but there's not been a lot of them at Sunderland."

Bain also asserted that Sunderland owner Ellis Short would sell to a party that could have a positive impact on the club, but that he had not stopped his funding into the Wearside outfit.

Ahead of Sunderland's visit from league-leading Chelsea on Wednesday, Bain additionally pledged his trust in the management of Moyes.

"David is absolutely the right choice for us," said Bain, who had previously held a similar job at Maccabi Tel Aviv. "I'm really pleased we've got him. We're very, very fortunate. David works harder than most people I've met in the game."