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Confirmed KLD only owns 41%

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Have I missed something. If he's just the biggest shareholder and not the majority shareholder why was there the weeks of delay with the Football League when he joined the Club while they assessed whether he was a "fit and proper person" to own the Club and why was he announced as the owner last March?

Thanks to KLD for that information but that's only part of what fans wanted to know.

The next question are;

Does one of the other shareholders own a majority of the shares? (e.g. They could have a 51% or bigger holding)
and
How are the remaining 59% of the shares actually distributed ?
 
Piece from the Athletic

It means Sunderland’s pre-existing ownership group owns a greater combined shareholding than Louis-Dreyfus but the club are eager to stress that it is the current chairman that is still the key decision-maker ahead of his first anniversary at the Stadium of Light this week.

After you have read that fom the club, the key decision maker is not KLD its the shadow directors behind him
 
The way this all looks is like is the previous owners saw that their popularity was lower than low, found a young shadow puppet owner and said theyve moved away from the club while pulling the strings behind the scenes
 
Makes you think Lee Johnson was actually doing a half decent job containing absolutely everything that goes with it.

Since his sacking the lid has absolutely blown the roof off in every department.
 
Grumpy Old Man said:
He has said he has a controlling interest. That implies that there's a clause in the sale agreement that allows him full control of board appointments, and day to day and football matters. Something else he has said. That's the only way of squaring the circle.
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Different point but I can’t see how Donald has less than 41% either. Unless the other two put in cash at the same time as KLD (unlikely) or the former owners sold down different percentages of their original holding each (unlikely too).
Never seen a shareholders agreement that gives effective control even when the other parties are so few in number/ can work together very easily.
 
Wayne The Punk said:
Why did they release it to them and not directly to the fans? I smell CM and his utter shit PR behind this, horrible fucker
Click to expand...

They wanted it out ahead of the meeting tomorrow, and from the look of some journalists' tweets, it's been released by the club to supporter's groups today as well.
 
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