Billionaire agrees to take over Cats
22-YEAR-OLD TO BECOME CHAIRMAN ONCE LEAGUE APPROVES DEAL IN 2021
SUNDERLAND have agreed a deal to allow Kyril Louis-Dreyfus to become the controlling shareholder at the club.
The deal, which must be approved by the EFL, was confirmed on Christmas Eve, with the young billionaire heir buying Stewart Donald’s controlling interest in the club.
Once approved, Louis-Dreyfus – whose late father Robert used to own French giants Marseille – will then become the club’s chairman.
In a statement released on the club’s website, Louis-Dreyfus said: “First, I would like to thank Stewart Donald for his integrity and reasonableness over the last three months, which has led to me having the opportunity to take a controlling stake in Sunderland AFC.
“I am fully aware of the efforts undertaken by the current ownership and Board to protect the viability of the Club and respect the difficulty of this task, given Sunderland’s recent past and the current economic climate.
“We respectfully await the EFL’s approval for this transaction. Nonetheless it would be remiss of me at this stage not to emphasise what an enormous honour it would be for me to become involved with such a historic club, in a city renowned for its rich football culture going back to 1879.
“Many will be aware of my family connections to the industry and, in acquiring Sunderland AFC, I understand the responsibility that’s placed upon me as the he custodian of the club’s future.”
Louis- Dreyyfus also said he wants the club to be at ‘the frontier of research and innovation’ and play attractive foott- ball.
He added: “We want to create a team that is entertaining to watch and that embodies the spirit and the culture of those who attend, thereby reconnecting the team with its fanbase, whose support will be so vital to our success.
“In the midst of a global pandemic, we should all be aware of the difficult situation the club is currently in and the challenges we face in the months to come. “However, through hard work, a diligent plan and togetherness from the Board of Directors, staff, players and support supporters we can between us u create a brighte brighter future at the Stadium of Lig Light. If we all p play our p parts, I firmly believe we can restore Sunderland AFC to the top tier of English football and I can’t wait to get started.” Louis-Dreyfus has been working on the deal with existing board member Juan Sartori, a Uruguayan businessman and politician who bought a stake in the club along with Donald and Charlie Methven.
Donald, who first put the Black Cats up for sale in January, claimed he actually rejected larger offers than the one presented by Louis-Dreyfus – and believes the Wearsiders will be in safe hands with the Frenchman.
The former Eastleigh owner said: “From the early meetings with Kyril, his family and advisers, I have been greatly impressed with their knowledge and understanding, learned over a long period as owners of major football clubs in Belgium and France.
“I believe that experience, combined with a good plan, will provide a platform for the club to progress and I look forward to watching that progress from afar.”
If we all play our parts, I firmly believe we can restore Sunderland AFC to the top tier of English football Kyril Louis-Dreyfus