Ebene News – GB – Breaking news: FFP loan to Sunderland paid off as takeover draws closer

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The takeover of Sunderland AFC by billionaire heir Kyril Louis-Dreyfus takes another step forward as Donald’s US loan is repaid in full

A major milestone in the Sunderland AFC buyout process was taken today, as news emerged that the £ 9million loan that Stewart Donald’s Madrox Partners has granted to the US consortium FFP Sunderland has been fully refunded

The document, filed by the club with Companies House this afternoon, says the indictment, which was secured against both the Stadium of Light and the Academy of Light in November 2019 after the initial buyout talks did not result in a buyout, was fully satisfied

While the charge was in place, FPP Sunderland had the right to approve the purchase and sale of Sunderland AFC shares. Now that this requirement has been removed, EFL approval is expected to for the takeover of Kyril Louis-Dreyfus will proceed as planned and could be completed as early as this afternoon

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Ebene News – EN – Latest news: FFP loan to Sunderland repaid as takeover draws closer

Source: https://rokerreport.sbnation.com/2021/2/18/22289173/breaking-news-fpp-loan-to-sunderland-repaid-as-takeover-edges-closer