New Sunderland chief executive Steve Walton insists that the club's decision to reduce season ticket prices is a gamble but is sure it will pay off.

Walton, who arrived at the Stadium of Light at the end of February, has more than 30 years' banking experience.

And Walton admits that the decision to reduce prices by £30 was "almost the first job I had to do".

"We agonised long and hard over what to do. The easy answer was just to freeze prices," he told BBC Radio Newcastle.

"We felt that the majority of clubs would go along that route.

"We were one of the very first to come out with our pricing so we were leading the way in many respects, and we were conscious that others would follow us.

"We can't be immune, no matter the loyalty of our fans.

"There are an awful lot of our season ticket holders who will renew come what may, but we can't as a club just rely on that.

"We have to be aware of what's going on in the industry and in terms of the economy around us."

Walton replaced Peter Walker, who had served the club for 10 years.

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