Ebene News – GB – Sunderland buyout is over as new billionaire 23-year-old president makes fan pledge

Sunderland today received the approval of the Football League for billionaire Kyril Louis-Dreyfus to take over the League One club

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The English Football League had to approve this decision and Louis-Dreyfus will now become the president of the club

The 23-year-old billionaire family owns French giant Marseille and he has an MBA from Harvard and a background in football administration

Louis-Dreyfus said: “I would like to thank Stewart, the Board of Directors and the EFL for their diligence and support throughout the recent process

“I am proud to become the guardian of this prestigious institution, but I also recognize the important responsibility that comes with it

“Today marks the start of an exciting new chapter in the history of Sunderland AFC and although the current football landscape requires that there be challenges to overcome

“I am convinced that together we can weather the current storm and lay a solid foundation to bring lasting and long-term success to the club”

Sunderland has suffered a steep decline in recent years, with League One club playing in the top flight just four years ago

The Black Cats are currently in seventh place from third place with realistic play-off hopes

They also secured their place at Wembley for this week’s EFL Trophy final thanks to a penalty shootout victory over Lincoln

Minority shareholder Donald declared: “I am delighted to welcome Kyril Louis-Dreyfus to the club as the new president and majority shareholder

“Kyril’s commitment, insight and integrity convinced us to accept his proposal. His vision and desire to bring success back to Sunderland was evident from the start and his candidacy is what we believe will be gives the club the best chance for success and long-term sustainability”

“When we entered into negotiations with Ellis Short three years ago, Sunderland was in debt of almost £ 200million, was losing £ 35million a year and had practically been relegated to League 1

“Our plan was to work hard to straighten the club’s finances, put it on a stable footing and be promoted back into the league

“I am proud to say that we have achieved what we planned in terms of the finances of the SAFC: the club is debt free, reached its breakeven point before the pandemic and has retained its status as an academy of category 1 “

Sunderland AFC, Margarita Louis-Dreyfus, Kyril Louis-Dreyfus, EFL League One, Stewart Donald, Robert Louis-Dreyfus

Ebene News – GB – The acquisition of Sunderland is completed in As new billionaire president, 23, makes fan promise

Source: https://www.mirror.co.uk/sport/football/news/sunderland-takeover-complete-billionaire-owner-23524823