Kyril Louis-Dreyfus has become the new chairman of Sunderland after his takeover of the Sky Bet League One club was approved by the EFL.
The 23-year-old Frenchman is the son of former Marseille owner Robert Louis-Dreyfus and becomes the youngest chairman in English football.
Louis-Dreyfus, who was at the Stadium of Light on Wednesday to see the Black Cats reach the final of the Papa John’s Trophy, acquires a controlling interest in the club, with Stewart Donald, Juan Sartori and Charlie Methven each retaining a minority shareholding.
Louis-Dreyfus 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 a custodian of this esteemed institution, but I also recognise the significant responsibility that comes with it."
Sunderland are currently 5/2 with Sky Bet to gain promotion from League One this season.
"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," he added.
"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."
Donald apologised to supporters for being unable to secure promotion back to the Championship, with the club currently in its third consecutive season in League One.
“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,” Donald said.
“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.”
Posted at 1600 BST on 18/02/21
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