Black Cats turn to Walter for boss hunt

FORMER Scotland and Rangers boss Walter Smith is helping Sunderland in their search for David Moyes’ replacement.

The 69-year-old is understood to be acting as an unofficial adviser as chief executive Martin Bain, with whom he worked during his time in charge at Ibrox, draws up a shortlist of potential candidates following Moyes’ resignation on Monday evening.

The Black Cats are in no rush to make an appointment after going through eight permanent managers since Roy Keane left in December 2008, and four since Martin O’Neill was shown the door in March 2013.

Smith’s role could point to exactly where the club may look for the new man, with Aberdeen’s Derek McInnes’s name having been mentioned in dispatches after he guided the Dons to a second-place finish behind runaway champions Celtic.

However, as Bain draws up the list he will then present to owner Ellis Short, he will do so knowing the job he eventually puts before his chosen candidate could be a difficult one to sell.

Sunderland’s financial situation is bleak – their last annual figures showed a loss after tax of £33million and a net debt of £110.4million – and relegation from the Premier League will drastically reduce revenue.

In addition, they still owe significant amounts in instalments for transfer fees they have committed in the recent past, some for players no longer at the club.