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An agreement has been reached for Kyril Louis-Dreyfus to buy Stewart Donald’s majority stake in Sunderland, paving the way for an acquisition.
The Frenchman will assume the presidency in the new year, subject to the approval of the English Football League.
Donald, who stepped down as president in July, has a 74% stake in the club.
“It has been no secret that I have been searching for some time to find the right person to move Sunderland forward,” Donald the club’s website said.
“Over the course of the last year there have been a lot of different people who have wanted to take over.
“However, while it is a matter of public knowledge that some of those bidders offered me more money, I felt that they offered less to the club and the community.
“While from the first meetings with Kyril, his family and his advisers, I have been very impressed by his knowledge and understanding, learned over a long period as owners of the major football clubs in Belgium and France.
“I think the experience, combined with a good plan, will provide a platform for the club to progress and I look forward to seeing that progress from afar.”
Former Eastleigh owner Donald has been Sunderland’s majority shareholder since May 2018, when he replaced the previous owner, Ellis Short.
You’ve been trying to sell the Black Cats for the past 12 months and said you were “desperate to get out” of the League One club in the summer.
At just 22, Louis-Dreyfus, the son of former Marseille owner Robert Louis-Dreyfus, would become the youngest president in English football.
“We respectfully await EFL approval for this transaction,” said Louis-Dreyfus.
“However, it would be remiss of me at this time not to emphasize what an enormous honor it would be for me to be involved with such a historic club, in a city famous for its rich football culture dating back to 1879.
“Many will be aware of my family’s connections to the industry and, by acquiring Sunderland AFC, I understand the responsibility that has been assigned to me as custodian of the future of the club.
“If we all do our part, I firmly believe that we can restore Sunderland AFC to the highest level in English football and I can’t wait to get started.”
