Sunderland takeover update as EFL checks continue on Kyril Louis-Dreyfus bid
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The 23-year-old has agreed a deal with Stewart Donald to purchase a majority shareholding in the club, the exact details of which are yet to be confirmed.
And with the pair having agreed terms, the only hurdle left is the EFL's owners and directors test - documentation for which was lodged on December 24.
Any person who is expected to exercise an element of control over a football club must go through these tests, which check whether the individual or group involved are the subject of any 'disqualifying conditions'.
There is no set length for how long the test takes for completion, with varying factors determining how quickly a deal is either approved or denied.
But Sunderland are hopeful that the deal will be given the green light by the middle of the month, with no issues anticipated with the test and approval of Louis-Dreyfus as a shareholder.
Indeed, EFL sources have indicated that the new national lockdown will not affect the speed of the test. While EFL staff and officials continue working from home, submissions made as part of the owners and directors test will continue to be processed as usual.
The hope remains, therefore, that Sunderland's ownership change will be approved during this month - with Louis-Dreyfus then being appointed as the club's chairman.
Donald will retain a minority holding in the club but has said he will follow the club 'from afar'.
Commenting on the deal, Donald said: "It’s been no secret that I have been looking for some time to find the right person to take Sunderland forward and during the course of the last year there have been a lot of different people wanting to take over.
"From the early meetings with Kyril, his family and advisers, I have been greatly impressed with their knowledge and understanding, learned over a long period as owners of major football clubs in Belgium and France.
"I believe that experience, combined with a good plan, will provide a platform for the club to progress and I look forward to watching that progress from afar.”