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Confirmed KLD only owns 41%

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Steak Pie said:
This is Tory government levels of lies and deception. Amazing they thought they could get away with it.
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There was people posting memes of Lemmings the other day at people saying he won't own 50% because they read it on twitter.

There was people actively opposing the club releasing the share splits.

People prefer comforting lies to uncomfortable truths so you get people falling for for this sort of shit all the time over and over.
 
SAFC2403 said:
isnt one of the board members something to do with Donald? Vumbaca apparently represented madrox during their original purchase from Short - so they are the representation on the board for madrox.

the whole thing has been a f***ing "fakeover"
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he is the one board member who is a madrox rep arguably
 
KittenMittens said:
Yeah I think KLD is still the horse we need to tie our cart to. I think he's got involved for the right reasons, but I wonder whether the dynamics of how this would look, or that of SD/JS/CM vs the fans was properly communicated to him.

Sad day this. Obviously you have suspicions, but you always hope they're just a nagging doubt. The more this has dragged on the more obvious it was that something was very wrong.
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Defining moment. He buys out the clowns or he loses the support
 
Martindale said:
Not sure if they have but article below:

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chairman Kyril Louis-Dreyfus has admitted he owns just a 41 per cent stake in the League One club, The Athletic can reveal.

Louis-Dreyfus, who became the EFL’s youngest chairman aged 23 when first arriving into English football 12 months ago, has only ever stated he has a “controlling stake” in Sunderland.

The previous ownership group, comprising of Stewart Donald, Juan Sartori and Charlie Methven, were known to have retained a shareholding but the club previously told fans in November that details could not be revealed due to “confidentiality clauses” in the takeover deal.

Fans have been promised “openness and transparency” by Louis-Dreyfus, son of Robert — the former owner of Marseille — and it is now known that the Swiss owns less than a majority shareholding.

In response to questions put to Sunderland by The Athletic, a club statement to supporters confirmed Louis-Dreyfus owns 41 per cent, with Donald — who previously held a majority between 2018 and 2021 — still holding a 34 per cent stake.

Sartori, a Uruguayan businessman and political figure, continues to own his original 20 per cent stake, with Methven also retaining five per cent.

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.

What does this actually mean for
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?​

The club believe the details have no impact on the day-to-day operations. The announcement that confirmed Louis-Dreyfus had struck a deal with Donald in December 2020 said he was taking on a “controlling stake” in Sunderland and the same message has been repeated.

Outlining the precise shareholding, though, underlines the continued presence of the club’s former owners, who had become increasingly unpopular when failing to deliver promotion back to the Championship.

Although a football board headed up by Louis-Dreyfus works independently without the input of Donald and Methven, the ownership group are known to have a say on some financial decisions within the club. They, like Louis-Dreyfus, have funding responsibilities.

What has Louis-Dreyfus said?​

In a letter to supporters groups ahead of a quarterly meeting held tomorrow, Sunderland’s chairman has said: “As previously stated, I have executive control of the running of the football club — something that was a fundamental requirement upon the purchase of my shares — and the executive management team inclusive of Steve Davison and Kristjaan Speakman report directly into me on a day-to-day basis.

“All major strategic decisions relating to the running of the club continue to be taken by the board of directors, compromising of myself, Maurice Louis-Dreyfus, David Jones, Steve Davison, Igor Levin, Patrick Treuer, Juan Sartori and Simon Vumbaca.

“Over the past 12 months, SAFC has required significant shareholder funding as part of our ongoing investment within the club and as a result of the lasting financial challenges from the pandemic.

“Substantial investment will continue to be required moving forward to ensure we fulfil our collective objectives and all shareholders remain wholly committed to honouring their respective financial obligations.”
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Cheers.

As much as you'd like to, how can you trust the kid man. Jesus wept.
 
Grumpy Old Man said:
There are lots of factors here.

First thing - these are not the respective shareholdings in Sunderland. They are the holdings in Mercator. Mercator owns 100% of the club. Until we know what jurisdiction Mercator is in, what that means in relation to shareholder motions is anyone's guess.

Next thing is to look at board composition.

Sunderland - KLD, Treuer, Levin. 100% KLD.

SAFC - KLD (KLD), Treuer (KLD), Levin (KLD), Davison (KLD)), Sartori (probably KLD), Vambuca (presumed SD), Jones (?)

So, in terms of day to day control of both companies, KLD is clearly in charge.

The biggest problem is how future funding arrangements work, an area for RAWA to push at perhaps.

Above all, we need clarity from tomorrow's meeting.
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Still think the false confirmation statement is an accident?
 
Nelson! said:
It’s amazing how badly they have mismanaged everything since the morning of the Doncaster game onwards. Our fan base has gone from excitedly snapping up tickets and a 38k crowd for a league one match to utterly deflated all trust in the club destroyed.

You’d think they were trying to make a mess of things because they’re so spectacularly bad at running it.

We need to let them know that there is no other option, they have to go.
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Fuckers can't even grow grass man
 
West_Winger said:
“Clear change of strategy”

Speakman was employed by Donald and Methven months before KLD came on board but aye I’m sure there’s a clear change.
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Well if I mention the improvements and investments in the academy, the retention of Neil, the investments in young players with genuine potential like Stewart Cirkin abd Matete there’s the clear evidence.
Honestly mate trust me the two spivs piss me off to the nth degree. I was one of the worst ranters about them before KLD landed but changes have happened at board level and in the club and I largely support it despite some bad recent decisions and some old school signings like Neil.
Hopefully there is a plan for change and things become clear. It’s unlikely I know cos this place is mental but I hope we clarify things before we set off the Semtex.
 
Guinness Guzzler said:
A very good suggestion. I've mentioned to RAWA that if he doesn't attend it's yet another slap in the face of the fans. But aye, now we know the split there's actually very little point in having a meeting unless kld is there. Most of the things the fans will want answers to aren't going to be able to be properly addressed by speakman or Davison. I imagine it'll go ahead but I think I agree with you that it might as well be cancelled if he isn't going to be there
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It's a sticky wicket for me, marra. Something like that would probably mean all ties severed completely. That leaves the BLC to continue to cosy up to the club, jeopardises other stuff like support with the flags and plays into the clubs hands as they don’t have to answer questions any other way. A decision like that should really be a full member ballot.
 
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