Niall Quinn confirmed on Thursday evening that his Drumaville consortium had gained control of Sunderland.
Quinn, the Coca-Cola Championship club's manager and chairman, and his consortium already had the backing of the club's major shareholders.
And he revealed the smaller ones have followed suit enabling him to complete his takeover of the Wearside club.
He explained tonight: 'We went for 90% of the shares. It hasn't quite come off today but my group have said they're taking the club anyway.
'We are very, very close with 89 point something - I'm not quite sure of the figure.
'Some of the papers were spoiled a bit but even if those papers don't come back we accepted today at a board meeting that we are taking the club.'
Quinn, who took the role of manager earlier in the week after weeks of trying to bring in what he describes as a 'world-class manager', is pleased to see a satisfactory conclusion to his move for the club.
The former Republic of Ireland striker continued on Sky Sports News: 'There's relief in some ways but it's very exciting.
'The most overriding thing for the fans, players and staff is to know the direction the club is going.
'Naturally you are always looking at the club in amazement - the way people here back you time and again.
'Things were poor last season but with the takeover they are out in their droves again.
'There's a positive feeling on Wearside and today is hopefully another bit of comfort.
'Who knows where it will end up? But we are all in it together and hopefully we'll be happy.'
With control confirmed, Quinn revealed he has made offers for three players as he bids to return the club to the Premiership at the first attempt.
He continued: 'Now I've got a chequebook - and I didn't have it until 5pm.
'I've faxed off three offers for players and hope to get down to the business of preparing us for the year ahead.'
Former Birmingham central defender Kenny Cunningham is the only addition made to the first-team squad so far this summer.
But whether Quinn strikes lucky or not in his quest for players, he is pleased with his squad's attitude to training.
Quinn, who scored 69 goals in 212 appearances for Sunderland after spells at Arsenal and Manchester City, added: 'The response from the players in training in the last couple of days has been enormous.
'They've every right to feel down after last season but they've stuck their chests out and there has been a tempo in training I've never witnessed wherever I've been.
'They really want to pay back the fans for what they endured last year - they want to give them something to be proud about.'