FPP Sunderland loan deal settled as Kyril Louis-Dreyfus takes charge at Stadium of Light

FPP's loan to Sunderland AFC has been repaid, an update at Companies House has confirmed.

Published 18th Feb 2021, 14:36 BST

Updated 18th Feb 2021, 16:54 BST

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The satisfaction of the charge was revealed shortly before confirmation of Kyril Louis-Dreyfus' takeover of the club was announced.

FPP Sunderland was formed by a group of American businessman closely associated with Michael Dell's MSD Capital group. They had initially held talks over a full takeover but instead opted to inject around $12 million in the form of a loan.

The deal saw them hold a charge over all of the club's assets, including the Stadium of Light and the Academy of Light.

Sunderland are now debt free as the Louis-Dreyfus era is set to get underway on Wearside.

It is not clear who has repaid the loan.

Louis-Dreyfus has assumed a majority shareholding in the club after he received clearance from the EFL.