FPP Sunderland loan is repaid in full as Louis-Dreyfus takes over
FPP's loan to Sunderland AFC has been repaid, an update at Companies House has confirmed.
The satisfaction of the charge was revealed shortly before confirmation of Kyril Louis-Dreyfus' takeover of the club was announced.
FPP Sunderland was formed by a group of American businessman closely associated with Michael Dell's MSD Capital group. They had initially held talks over a full takeover but instead opted to inject around $12 million in the form of a loan.
The deal saw them hold a charge over all of the club's assets, including the Stadium of Light and the Academy of Light.
Sunderland are now debt free as the Louis-Dreyfus era is set to get underway on Wearside. It is not clear who has repaid the loan.
Louis-Dreyfus has assumed a majority shareholding in the club after he received clearance from the EFL.