MX23RW : Wednesday, April 14 05:16:05| >> :600:989045:989045:

Sunderland agree takeover deal with Kyril Louis-Dreyfus

The club expect the ratification process to take until the middle of January.

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.

"However, even though it is a matter of public record that some of those bidders offered me more money, I felt that they offered less to the club and to the community."

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.

"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 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.

ID:427912: cacheID:427912:1false2false3false:QQ:: from db desktop :LenBod:restore:3421:
Restore Data
Share this article now:
Did you know...?
General view of Sunderland's Stadium of Light from January 2017
Read Next:
EFL: 'Sunderland had option to postpone Wimbledon game'

rhs 2.0
Todays Game Header Right
1Hull City412471071323979
2Peterborough UnitedPeterborough402371070383276
4Lincoln CityLincoln391991161421966
7Oxford UnitedOxford Utd411881563491462
8Charlton AthleticCharlton391711115751662
9Ipswich TownIpswich40179144141060
11Accrington StanleyAccrington401610145257-558
12Doncaster RoversDoncaster39176165555057
13Fleetwood TownFleetwood4015111443331056
14MK Dons411510165558-355
15Crewe AlexandraCrewe401510154754-755
16Plymouth ArgylePlymouth411410175066-1652
17Burton Albion40149175363-1051
18Shrewsbury TownShrewsbury391214134446-250
19AFC Wimbledon401012184462-1842
20Wigan AthleticWigan41118224568-2341
21Northampton TownNorthampton411010213458-2440
22Bristol Rovers41108234064-2438
23Swindon TownSwindon41114264674-2837

Subscribe to our Newsletter

Transfer Talk Daily
Match previews - twice weekly
Morning Briefing (7am UTC)
Ultra close-up image of Kevin De Bruyne [NOT FOR USE IN ARTICLES]Get the latest transfer news, match previews and news direct to your inbox!