Ebene News – GB – Sunderland: the takeover of Kyril Louis-Dreyfus approved by the EFL as the 23-year-old French billionaire heir becomes majority shareholder


French billionaire heir Kyril Louis-Dreyfus secures majority stake in Sunderland after EFL approval; Stewart Donald, Juan Sartori and Charlie Methven retain minority stakes; Sunderland currently seven in League One, one point from the play-off places

The EFL has approved the takeover of Sunderland by Kyril Louis-Dreyfus, who becomes president with immediate effect

French billionaire heir Louis-Dreyfus, 23, has acquired a majority stake in the League One club, with Stewart Donald, Juan Sartori and Charlie Methven each retaining a minority stake

Louis-Dreyfus was in attendance as Sunderland lost 2-1 to Shrewsbury Town last week, his first public appearance since news on Christmas Eve that he had struck a deal to become the new owner of the Stadium of Light

Donald said: “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 One

Our plan was to work hard to straighten the club’s finances, put it on a stable footing and be promoted back to the league I am proud to say that we have reached our goal in terms of the finances of the SAFC: the club is debt free, reached its breakeven point before the pandemic and has maintained its status as a Category 1 academy

“However, it’s no secret that – despite the highest transfer fees and salaries in Ligue 1 history – progress on the pitch has not kept pace It has been a bitter disappointment for us as owners, and we can only apologize for failing in this regard.”

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 Sunderland AFC history and while the current football landscape requires there to be challenges to be overcome, I am convinced that together we can weather the current storm and lay a solid foundation in place to bring lasting and long-term success to the club “

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

Ebene News – GB – Sunderland : Kyril Louis-Dreyfus buyout approved by EFL as 23-year-old French billionaire heir becomes majority shareholder

Source: https://www.skysports.com/football/news/11095/12221868/sunderland-kyril-louis-dreyfus-takeover-approved-by-efl-as-french-23-year-old-billionaire-heir-becomes-majority-shareholder