Sunderland: Martin Bain says club will not spend their way out of trouble

Sunderland have lost 10 of their first 15 Premier League games this season

Sunderland will not spend their way out of trouble in the January transfer window, says chief executive Martin Bain.

The Black Cats are bottom of the Premier League, two points from safety after three wins in 15 games.

Bain described Sunderland's level of debt as "not healthy" and said manager David Moyes would not make big-money signings next month.

"We have very limited transfer funds available for January," he said.

Bain highlighted Sunderland's high turnover of players in recent seasons as one of the reasons for the club's "difficult financial backdrop".

He said they had made a profit on just three of the 46 players they have sold since 2009.

"It's not a statistic that anyone can be proud about," he added.

The Black Cats have also had a high turnover of managers in the past few seasons.

Since Steve Bruce was sacked in November 2011, Martin O'Neill, Paolo di Canio, Gus Poyet, Dick Advocaat, Sam Allardyce and Moyes have managed the club.

"This is the time where we have to deal with the cards we have been dealt and get on with it," said Bain.

"The funds are limited and it'll be a difficult journey, there is no doubt about that. These are times when you dig deep together."