Short, 48, made his fortune in the private equity business and the operation of hedge funds.
He has an interest in buying other British properties, having purchased Skibo Castle, an ultra-exclusive Scottish retreat and turning it into a hotel and country club, where Madonna married Guy Ritchie in 2000.
Teams with American owners finished 1-2-6: Manchester United (Malcolm Glazer), Liverpool (Tom Hicks and George Gillett) and Aston Villa (Randy Lerner).
Sunderland survived a fierce relegation battle, finishing 16th in the 20-team EPL.
It was one of two EPL clubs to change hands in the last week.
Portsmouth was sold to a consortium led by Dubai businessman Sulaiman Al Fahim.