Sunderland AFC ownership: What we know as Kyril Louis-Dreyfus makes share admission plus what fans were told when 'takeover' went through

Sunderland fans finally have clarity on who owns what share of the club – but the news has sparked major controversy.
Watch more of our videos on Shots! 
and live on Freeview channel 276
Visit Shots! now

Pressure has been building on the Black Cats’ Chairman to clarify the ownership structure at the club, having told a supporters’ collective meeting late last year that he was unable to do so due to confidentiality agreements.

Hide Ad
Hide Ad

A fractious two weeks at the club following Lee Johnson’s departure have seen automatic promotion prospects all but disappear, and have again brought the ownership structure into focus.

Sunderland chairman Kyril Louis-DreyfusSunderland chairman Kyril Louis-Dreyfus
Sunderland chairman Kyril Louis-Dreyfus

When the takeover was confirmed in February 2021, Louis-Dreyfus was described as the ‘new chairman and controlling shareholder’.

While he owns the largest portion of shares, he has confirmed that still only totals 41%.

Former Madrox ownership group members Stewart Donald, Juan Sartori and Charlie Methven own the remaining shares – totalling 59%.

Hide Ad
Hide Ad

Ahead of another meeting with the Supporter Collective on Wednesday night, Louis-Dreyfus has sent a note to attendees.

He insists he still has ‘executive control of the running of the football club’.

What is the breakdown of shares at Sunderland?

Louis-Dreyfus confirmed that the breakdown of shares is as follows:

- Kyril Louis-Dreyfus 41 %

- Stewart Donald 34%

- Juan Sartori 20%

- Charlie Methven 5%

What has Kyril Louis-Dreyfus said about the big revelation?

Louis-Dreyfus went on to say: “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.

Hide Ad
Hide Ad

“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.”

Phil Smith’s snap analysis:

“While insisting he has a ‘controlling stake’ in the club, and that day-to-day management report directly into him (he continues to enjoy a healthy majority on the board), many fans are likely to feel this was not the new era that was promised.

Hide Ad
Hide Ad

“Methven’s continued appearance at away games had continued to build controversy as the team’s form plummeted and while Louis-Dreyfus has never publicly claimed to own a majority of the shares, he now faces a significant challenge in rebuilding trust.”

What did Kyril Louis-Dreyfus and Stewart Donald tell fans when the takeover deal was finally confirmed last year?

A club statement on February 18, 2021, read: “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.”

Speaking on February 18, 2021 Kyril 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.

Hide Ad
Hide Ad

"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.”

In the statement, outgoing majority shareholder Stewart Donald apologised for ‘falling short’, but said everything in Madrox’s acrimonious tenure was done ‘with the best of intentions’.

“I am delighted to welcome Kyril Louis-Dreyfus to the club as our new chairman and controlling shareholder,” Donald said.

Hide Ad
Hide Ad

"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.

Hide Ad
Hide Ad

"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.”

A message from the Football Clubs Editor

Our aim is to provide you with the best, most up-to-date and most informative Sunderland AFC coverage 365 days a year.

This depth of coverage costs, so to help us maintain the high-quality reporting that you are used to, please consider taking out a subscription to our new sports-only package here.

Your support is much appreciated. Richard Mennear, Football Clubs Editor