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After billionaire Kyril Louis-Dreyfus finally gets EFL approval, he takes a controlling stake in the club when Stewart Donald’s time in charge of Sunderland AFC finally comes to an end

It’s the news we’ve all been waiting for – today, the EFL approved Kyril Louis-Dreyfus’ move to buy a controlling stake in Sunderland AFC from Stewart Donald and becomes chairman of the club effective immediately >

Sunderland AFC received approval from the English Football League today for Kyril Louis-Dreyfus to acquire a controlling stake in the club, signaling the beginning of a new era on Wearside

Louis-Dreyfus will also become the new chairman of the club with immediate effect, with Stewart Donald, Juan Sartori and Charlie Methven each retaining a minority stake

Stewart Donald said, “I am delighted to welcome Kyril Louis-Dreyfus to the club as the new chairman and majority shareholder. Kyril’s dedication, ingenuity and integrity convinced us to accept his proposal, his vision and desire to make Sunderland a success again help were obvious from the start We believe that what it offers offers the club the best chance of long-term success and sustainability

“When we started negotiations with Ellis Short three years ago, Sunderland was nearly £ 200m in debt, losing £ 35m a year and was as good as relegated to the top tier. Our plan was to work hard to get around to improve the club’s finances, put it on a stable footing and get back to the championship I’m proud to say that we have achieved what we set out to do with SAFC finances – the club is debt free, broke even before the pandemic and maintained its status as a Category 1 academy, however, it’s no secret that – despite the highest transfer fees and wages in League One history – advances on the pitch haven’t followed suit that was one bitter disappointment for us as owners and we can only apologize for falling short on this

“While we certainly made mistakes, everything was done with the best of intentions to achieve this goal, but we just didn’t make it and in football, unfortunately, a miss is as good as a mile as the club is currently its third Has booked the Wembley final in three seasons and is still looking for a promotion, the foundations have been laid for better times.We hope and believe that the new management team, with Kyril at the helm, will finally complete the turnaround and get the club back into the world Divisions can bring ”

Louis-Dreyfus commented, “I would like to thank Stewart, the Board of Directors and the EFL for their care and support during the recent process. I am proud to become an administrator of this prestigious institution, but I also recognize the significant responsibility that goes with it Today marks the beginning of an exciting new chapter in the history of Sunderland AFC Although the current landscape of football dictates overcoming challenges, I am confident that together we can weather the current storm and lay solid foundations to be sustainable and long-term success for the club ”

The new share structure will reportedly result in Louis-Dreyfus acquiring 59% of the club, with Juan Sartori, Stewart Donald and Charlie Methven retaining minority stakes. First signs are that the club will be debt-free after the deal and that the stadium will be free and the academy will remain the club’s most important material asset and that Donald and Methven will no longer have a say as a result of the deal. Key decisions at the Stadium of Light

Roker Report believes that the EFL has contacted the major minority shareholders for further assurances that they would guarantee to fund the club for an additional two years and that while this was an unexpected move, it was not a significant one Hurdle for shareholders to overcome

The announcement was preceded by the completion of documents at Companies House telling the business regulator that the FPP Sunderland secured loan of $ 9 million was approved GBP has been repaid in full This appears to have been the final step in the takeover process

At 23, Kyril Louis-Dreyfus is the youngest owner and chairman of Sunderland AFC in our 142-year history He brings his family’s experience with Olympique Marseille, his great legacy, as well as his Harvard MBA and training in football administration

According to reports in The Telegraph, M Louis-Dreyfus is now planning to move to the northeast to take an active leadership role in running the club That development is welcomed by fans who have worried about the prospect of another absent owner, and it has also been widely reported that Kyril’s twin brother Maurice – who also holds a multi-billion pound trust fund – will join as director and keep the club on will embed in his investment portfolio

There is no doubt that the new owner’s love of football motivated his decision to invest in our club and that Kristjaan Speakman’s plan to focus on youth development was closely related to Louis-Dreyfus’ wider improvement program in related to all aspects of the club, both football and advertising

This news has come over two months since news of Louis-Dreyfus’ interest in the club first became known, and six weeks after the deal was agreed in principle It was announced on the club’s website as given to the EFL

It is the final step in a transition period that has lasted since Phil Parkinson’s discharge Thereafter, the club appointed Lee Johnson and Kristjaan Speakman as head coaches, respectively Director of Football, hired a dedicated data analytics team, and last month veteran Sunderland supporting businessman Steve Davison was finally brought in as Chief Operating Officer

Louis-Dreyfus is said to have been the main decision maker at the club during this period and has already put together an experienced but youthful team to support the players’ efforts to get out of the premier league as soon as possible Johnson was obviously the choice by Speakman and Louis-Dreyfus, and he confirmed in his comments after the Shrewsbury game on Aug. February that he has been in contact with the new owner since the news of the takeover became known. Louis-Dreyfus has now played in the last three games, including the semi-final win of the EFL Trophy on Wednesday evening

For fans, welcoming a wealthy new owner to the Stadium of Light has been a very slow and often frustrating process

After the Premier League parachute payments were used to replace Ellis Short in 2018, and then failed to get promoted back to the championship for the first time, the initially positive relationship between Stewart Donald’s consortium and the fans began to disintegrate

In the summer of 2019, he tried twice to sell control of the club, first to Mark Campbell and then to the America-based FPP Sunderland group, but both deals failed

Relationships continued to deteriorate after a violent meeting of the structured dialogue between Charlie Methven and fan groups in November 2019, the deterioration in results on the pitch, and the FPP acquisition that turned from a takeover into a $ 9 million loan GBP that was secured against the club’s assets

In December 2019, Roker Report along with Wise Men Say urged Donald to keep his promise to the club when he failed after a terrible 0-0 draw on Boxing Day against Bolton, Stewart and Democratic fan group Red & White Army Stewart was more welcome – a call he answered when he announced in early January 2020 that it would sell out asap

In early February, Methven told BBC Newcastle’s breakfast show that several serious bidders were battling to buy the Madrox group, but when the coronavirus pandemic broke out, the season was canceled and the normal rhythm of football and business stopped almost completely on during the first lock

Donald’s final act as club chairman was to hold an informal meeting with the Red & White Army and other fan groups in mid-July, where it was reported that he set out the harassment he and his family had suffered among fans prior to personal assault on individual supporters Donald then casually offered to sell the club to the fans if we could raise its price of £ 35 million

He symbolically resigned three days later, transferring responsibility for running the club to new CEO Jim Rodwell, who had been hired in the spring while maintaining final control as the majority shareholder

It was a few days before the club announced that it was in a “period of exclusivity” with a serious bidder in the hopes that the deal would be closed by the beginning of the season in September, but this one Appointment came and went Nothing more was said and the second and third waves of the coronavirus hit England hard

The fact that the uncertainty is now over will be tired news for a tired and frustrated fan base, and we look forward to a new era in which we can return to where we all rightly belong feel – among the top ten clubs in the country

Kyril Louis-Dreyfus

Weltnachrichten – GB – Takeover confirmed: Sunderland AFC has a new majority shareholder in Kyril Louis-Dreyfus

Source: https://rokerreport.sbnation.com/2021/2/18/22274432/takeover-confirmed-sunderland-afc-have-a-new-majority-shareholder-in-kyril-louis-dreyfus