Sunderland have halted their search for a new manager as two rival groups look to buy the club.
Former Arsenal and England captain Adams holds Granada's jersey next to club's VP Wang after being presented as new head coach in Granada
A new fan-led consortium is preparing a takeover bid for Sunderland according to reports.
The Turner brothers and Pearlman all support the Stadium of Light side and own production company Fulwell73, named after a stand in the club’s old Roker Park stadium and the 1973 FA Cup success.
Adams, the sporting director of Granada, was recently installed as caretaker coach at the club, tasked with trying to keep them afloat in La Liga.
Former Arsenal and England captain Adams reacts after being presented as new head coach of Granada soccer club, in Granada
The side lost all seven games under his charge and scored just three goals as they were relegated into the second tier.
Having suffered the drop themselves last season, Sunderland have been in disarray this summer.
David Moyes offered his resignation after failing to keep the Black Cats in the Premier League and the board’s number one target to replace him, Aberdeen’s Derek McInnes, decided to remain north of the border.
England's Jordan Pickford during training
The club announced that the task of finding a new manager would be put on hold until discussions over the sale of the club had been concluded.
Meanwhile, goalkeeper Jordan Pickford has departed to Everton and a host of first-teamers have been released.