Sunderland bid for midfielder rejected

Sunderland have reportedly had a bid for Huddersfield midfielder Jon Stead rejected.

Tonight's Evening Chronicle reports that Sunderland bid an initial £500,000 which would rise according to appearances made - but Huddersfield have knocked Mick McCarthy back.

Huddersfield's board are said to be prepared to wait until the January transfer window opens to see if any higher offers are made.

Terriers manager Peter Jackson is reputed to have denied that he has received any offers at all for the 20 year old player, and that it would take "a huge offer" to persuade him to part with Stead.

But significantly, the fact that Sunderland is now in a position to make such a cash bid, taking into account the cashflow problems in the summer, is indicative of improving finances at the club.