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Kyril Louis-Dreyfus has completed his acquisition of Sunderland, becoming the youngest owner in the club’s history at the age of 23.
The Swiss billionaire bought a majority stake in the club from former owner Stewart Donald and has become the president of Black Cats effective immediately. Donald, along with Juan Sartori and Charlie Methven, will each retain a minority stake.
News that a deal had been struck for Louis-Dreyfus to buy the club first broke on Christmas Eve, but Sunderland had to wait nearly two months to get the EFL’s seal of approval.
In a statement issued on club website, the new owner 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 custodian of this esteemed institution, but I also recognize the important responsibility that comes with it.
“Today marks the beginning of an exciting new chapter in Sunderland AFC’s history and while the current landscape facing football dictates that there are challenges to overcome, I am confident that together we can weather the current storm and lay a strong foundation for achieve sustainable football and long-term success for the club. “
Donald – A familiar face to fans of Sunderland ‘Til I Die – bought Sunderland in April 2018 following the club’s relegation to League One. It has been trying to sell the club for more than 12 months.
“I am delighted to welcome Kyril Louis-Dreyfus to the club as our new president and majority shareholder,” said Donald. “Kyril’s commitment, insight and integrity convinced us to accept his proposal. His vision and desire to bring Sunderland back to success was obvious from the start and we believe that his commitment is the one that gives the club the best chance of success. and long-term sustainability.
“We hope and believe that the new management team, with Kyril at the helm, can finally complete the change and move the club up the divisions once again.”