• The forums will be unavailable for a few hours on Saturday 6th June, when they do return they will initially be in a degraded state with some features missing, but normal posting/reading will be possible. The main website will not be affected by these updates.
    New user registrations are currently disabled.

Confirmed KLD only owns 41%

Status
Not open for further replies.
West_Winger said:
You must be logged on to see external links

Sunderland AFC today received approval from the English Football League for Kyril Louis-Dreyfus to acquire a controlling interest in the club, signalling the start of a new era on Wearside.

Louis-Dreyfus also becomes the club’s new Chairman with immediate effect, with Stewart Donald, Juan Sartori and Charlie Methven each retaining a minority shareholding.

Stewart Donald said: “I am delighted to welcome Kyril Louis-Dreyfus to the club as our new chairman and controlling shareholder. Kyril’s commitment, acumen and integrity convinced us to accept his proposal. His vision and desire to bring success back to Sunderland was obvious from the outset and his bid is the one that we feel gives the club the best chance of long-term success and sustainability.

“When we entered into negotiations with Ellis Short three years ago, Sunderland was nearly £200 million in debt, was losing £35 million per annum, and had all but been relegated to League One. Our plan was to work hard to turn around the finances of the club, put it on a stable footing and to get promoted back into the Championship. I am proud to say that we have achieved what we set out to in terms of SAFC’s finances – the club is debt-free, was breaking even prior to the pandemic and has retained its Category One Academy status. However, it is no secret that – despite spending the highest transfer fees and playing wages in League One history – progress on the pitch has not followed suit. That has been a bitter disappointment for us as owners, and we can only apologise for falling short in this regard.

“Whilst we certainly made mistakes, everything was done with the best of intentions with the view to deliver this aim, but we just fell short and in football, unfortunately, a miss is as good as a mile. However, with the club just having booked its third Wembley final in three seasons and still being in the hunt for promotion, the foundations are set for better times. We hope and believe that the new management team, with Kyril at its head, can finally complete the turnaround and get the club climbing the divisions once again.”

Louis-Dreyfus commented: “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 a custodian of this esteemed institution, but I also recognise the significant responsibility that comes with it. Today marks the start of an exciting new chapter in Sunderland AFC’s history and although the current landscape facing football dictates that there are challenges to overcome, I am confident that together we can weather the present storm and put solid foundations in place to bring sustainable and long-term success to the club.”
Click to expand...

So that was a load of shite then ?
 

BumbleBee said:
Anyone thinking KLD, a billionaire twice over, is involved in subterfuge because he wants to make a few million flipping the club are off their fecking rocker like :lol:
Click to expand...
I get this however there is something untoward about the way this has all been set up and the way facts are popping up regarding each individual running this club. Somethings stirring imo
 
BumbleBee said:
Anyone thinking KLD, a billionaire twice over, is involved in subterfuge because he wants to make a few million flipping the club are off their fecking rocker like :lol:
Click to expand...
Not saying you're wrong but people said we were off our rocker to think he'd come here for less than 50%
 
West_Winger said:
You must be logged on to see external links

Sunderland AFC today received approval from the English Football League for Kyril Louis-Dreyfus to acquire a controlling interest in the club, signalling the start of a new era on Wearside.

Louis-Dreyfus also becomes the club’s new Chairman with immediate effect, with Stewart Donald, Juan Sartori and Charlie Methven each retaining a minority shareholding.

Stewart Donald said: “I am delighted to welcome Kyril Louis-Dreyfus to the club as our new chairman and controlling shareholder. Kyril’s commitment, acumen and integrity convinced us to accept his proposal. His vision and desire to bring success back to Sunderland was obvious from the outset and his bid is the one that we feel gives the club the best chance of long-term success and sustainability.

“When we entered into negotiations with Ellis Short three years ago, Sunderland was nearly £200 million in debt, was losing £35 million per annum, and had all but been relegated to League One. Our plan was to work hard to turn around the finances of the club, put it on a stable footing and to get promoted back into the Championship. I am proud to say that we have achieved what we set out to in terms of SAFC’s finances – the club is debt-free, was breaking even prior to the pandemic and has retained its Category One Academy status. However, it is no secret that – despite spending the highest transfer fees and playing wages in League One history – progress on the pitch has not followed suit. That has been a bitter disappointment for us as owners, and we can only apologise for falling short in this regard.

“Whilst we certainly made mistakes, everything was done with the best of intentions with the view to deliver this aim, but we just fell short and in football, unfortunately, a miss is as good as a mile. However, with the club just having booked its third Wembley final in three seasons and still being in the hunt for promotion, the foundations are set for better times. We hope and believe that the new management team, with Kyril at its head, can finally complete the turnaround and get the club climbing the divisions once again.”

Louis-Dreyfus commented: “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 a custodian of this esteemed institution, but I also recognise the significant responsibility that comes with it. Today marks the start of an exciting new chapter in Sunderland AFC’s history and although the current landscape facing football dictates that there are challenges to overcome, I am confident that together we can weather the present storm and put solid foundations in place to bring sustainable and long-term success to the club.”
Click to expand...
Hi mate, are agreeing with me or disagreeing, it looks like it states 'controlling interest' as I quoted a lot of people me included took this as being 'majority'. Clever people have picked up on this and realised that
 
Someone get onto fulwell73 and ask them to do a documentary on this and then use the profits to buy the club!
 
BumbleBee said:
Anyone thinking KLD, a billionaire twice over, is involved in subterfuge because he wants to make a few million flipping the club are off their fecking rocker like :lol:
Click to expand...
Aye I'm about 99% sure he isn't here to flip the club!

The way I see it, he has control over the football side as he's ensured the board of directors are "his" people, albeit with a representative for Donald and Methven (which they likely insisted on).

The concern for me with the deal is firstly how it was portrayed, they certainly made it feel more like kld had a majority of the shares.

I'm also concerned about funding, how does that work? Can kld inject funding if they won't match it proportionally? Can he dilute their shareholdings?

And crucially, does he plan to own 100% of the club, and when can we expect to see Donald and Methven gone for good.

The way its been handled (like various other things recently!) has been awful and he'll have to give a lot of transparency before people even start to trust him again but I don't think the secrecy was his idea. I strongly believe he wanted to come out and state the shareholdings a while ago. I've still got a bit of trust as far as KLD is concerned, but like I say he's got to be open, honest and frankly he's got to start getting some decisions right!
 
Gaz said:
Then don’t complain when the madrox lot fuck everything up. The club have lied or at very least cleverly hidden the truth, but that doesn’t bother you?
Click to expand...
I have taken no interest in boardroom affairs so when you say the club have lied , it means nothing to me.
 
Status
Not open for further replies.
Back
Top