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25 December 2020 10:38

Sunderland A.F.C. Stewart Donald Juan Sartori

Kyril Louis-Dreyfus agrees Sunderland takeover deal subject to EFL approval

Sunderland have announced that an agreement has been reached with a prospective new owner, Kyril Louis-Dreyfus, the son of the former Marseille owner Robert Louis-Dreyfus, and is set to acquire Stewart Donald's controlling interest in the club. Donald accepted an offer from the 22-year-old Frenchman in November but the deal has taken six weeks to complete and is still pending approval from the EFL. If that is granted, Louis-Dreyfus will become chairman and majority shareholder of the League One club. "In acquiring Sunderland, I understand the responsibility that's placed upon me as the custodian of the club's future. "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, if we all play our parts, I firmly believe we can restore Sunderland to the top tier of English football and I can't wait to get started." Donald, who led a consortium to buy out Ellis Short in April 2018, said: "It's been no secret that I have been looking for some time to find the right person to take Sunderland forward. The club said that a final decision from the EFL is not due until mid-January and they will make no further comment until then. "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 custodian of the club's future," Louis-Dreyfuss added. His family founded the Swiss-based Louis-Dreyfus group in the 19th century and owned Marseille for 10 years before selling it in 2016. Kyril Louis-Dreyfus set to become Sunderland majority owner SUNDERLAND, England (AP) — Sunderland reached an agreement with Kyril Louis-Dreyfus, whose family previously owned French team Marseille, to take control of the third-tier English club.

Louis-Dreyfus, who is in his early 20s, will become chairman of the League One team "early in the New Year," subject to approval from the English Football League, Sunderland said on Thursday. "Documentation relating to the deal has been lodged today with the EFL for their scrutiny, and the club recognizes that the EFL need to approve all aspects of the transaction and business plan going forward before any change of control," the club said. Louis-Dreyfus' family founded the Swiss-based Louis-Dreyfus group in the 19th century and owned Marseille for almost 20 years before selling the club in 2016. "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 custodian of the club's future," Kyril Louis-Dreyfus said in a statement. Majority owner Stewart Donald had announced in July that he wanted to sell, but the club had previously declined to comment on reports that a deal was close to being completed.

Donald said he agreed to sell his controlling interest to Louis-Dreyfus despite higher offers from other bidders. "I felt that they offered less to the club and to the community," Donald said in his joint statement with Louis-Dreyfus. Louis-Dreyfus thanked Donald for his "integrity and reasonableness" during negotiations. "We respectfully await the EFL's approval for this transaction," he said. Robert Louis-Dreyfus was Marseille's majority owner for more than a decade until his death in 2009.

KYRIL LOUIS-DREYFUS has agreed a deal to replace Stewart Donald as the majority shareholder at Sunderland. Documentation has been lodged with the EFL, and assuming the deal is ratified as planned, Louis-Dreyfus will assume control of the Black Cats next month. 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. "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 custodian of the club's future. "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.

"If we all play our parts, I firmly believe we can restore Sunderland AFC to the top tier of English football and I can't wait to get started." Donald added: "It's been no secret that I have been looking for some time to find the right person to take Sunderland forward and during the course of the last year there have been a lot of different people wanting to take over. "Whereas 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. Sunderland AFC have revealed that Kyril Louis-Dreyfus has agreed a deal to acquire Stewart Donald's controlling interest in the club, subject to EFL ratification. Louis-Dreyfus will become chairman at the Stadium of Light in the New Year, if the deal is approved by the EFL. If approved by the EFL, the deal will see Louis-Dreyfus become chairman at the Wearside club early in the New Year. Documentation has been sent to the EFL to cast an eye over the transaction and business plans going forward. Sunderland have confirmed an agreement has been reached for Kyril Louis-Dreyfus to acquire Stewart Donald's controlling interest in the club. Louis-Dreyfus, the son of former Marseille owner Robert Louis-Dreyfus, will become chairman of the Sky Bet League One club "early in the New Year", subject to approval from the English Football League. A statement on the club's official website read: "Documentation relating to the deal has been lodged today with the EFL for their scrutiny, and the club recognises that the EFL need to approve all aspects of the transaction and business plan going forward before any change of control. "Given the time of year, that process is not expected to conclude until mid-January, until which point there will be no further public comment from Sunderland AFC or Kyril Louis-Dreyfus." Donald announced he wanted to sell Sunderland in July, but the club had previously declined to comment on reports that a deal was close to being completed. Donald told the club's official website: "It's been no secret that I have been looking for some time to find the right person to take Sunderland forward and during the course of the last year there have been a lot of different people wanting to take over. 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. 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 custodian of the club's future." Louis-Dreyfus' family founded the Swiss-based Louis-Dreyfus group in the 19th century and owned French club Marseille for 10 years before selling it in 2016.