"We went into this season full of hope, but the simple fact is that there were too many performances that lacked passion and determination.
"Sunderland fans expect this from our performances and are well within their rights to do so.
"We're all down at the moment, but it's my responsibility as chairman to get everyone working on the future. A difficult period lies ahead as we face the realities of life outside of the Premiership.
"What is important is that we remain focused on one thing now and that is winning promotion next season.
"That is why Mick McCarthy is here. He is a fighter, a winner and is determined to get us back into the Premiership."