Sunderland ownership: What you need to know about the latest announcement - and what it means

Sunderland confirmed a further change in the club's shareholding structure on Saturday morning, just two months after the latest developments.

So what happened and what does it mean? Here's your guide...

So - what's changed at Sunderland?

Kyril Louis-Dreyfus and Juan Sartori have both again increased their shareholding in the club.

Louis-Dreyfus has purchased a further 6%, taking his total stake from 58% to 64%. Sartori has purchased a further 3%, taking his total stake from 33% to 36%.

Significantly, it means that Stewart Donald has now sold his remaining 9% stake in the club, and is no longer part of the shareholding group. He therefore has no involvement, formal or otherwise, at Sunderland AFC.

Was this expected?

Yes and no.

Louis-Dreyfus initially purchased a 41% stake in the club. Though he had wanted more, a deal couldn't be reached and eager to begin the project, he settled for that because it was written into the shareholders' agreement that he would have control even if at that stage he did not retain a majority stake.

Since then, he has been gradually increasing his stake. A crucial moment came last summer, when he took his shares above 50% and alongside Sartori bought out Charlie Methven completely.

As such, it so no surprise that he and Sartori have steadily bought out Donald's share - culminating in Saturday's announcement.

What is perhaps slightly unexpected is that Donald has opted to sell his remaining stake at this stage. In March he reduced his stake to 9%, which cleared the way for him to return to Eastleigh FC.

Donald said that he was eager to have more day-to-day involvement in a club but that he still wanted to be involved at Sunderland and be part of the project Louis-Dreyfus and Sartori were building. The suggestion was that he was not looking to sell his remaining shares, which would potentially hold significant value were the club to continue on its recent trajectory.

His takeover/return at Eastleigh was confirmed earlier in May and less than a month later, he has sold up at Sunderland in full.

So what's changed, and what will actually change on a day-to-day basis moving forward at Sunderland?

None of the parties involved have commented on the latest development but very obviously gives all parties clarity ahead of the new season, and Donald added resource following his Eastleigh return.

In terms of Sunderland's day-to-day governance, it will change very little.

Donald had long relinquished any formal role at the club, and has not sat on the club's board since Louis-Dreyfus' arrival. Though he has very occasionally attended games since then, he has by and large made good on his promise to watch from afar after relinquishing his majority stake.

As he admitted in March, his role was essentially reduced to occasional conversations with other shareholders and writing the occasional cheques. Here is where the only change really comes, though it is not an insignificant one by any means.

Budgets and investment are agreed by the shareholding group, who then invest proportionate to their stake in the club. As such, the club's financial direction is now purely the domain of Louis-Dreyfus and Sartori.

As such, it is fair to see this latest development as the next stage of the ownership's project to grow the club to the point where it is a realistic contender for promotion to the Premier League, and to then try and stay there.

Louis-Dreyfus and Sartori want to return the club to the top tier within five years of their arrival and this is another part of moving the club along that trajectory.

It is also a significant moment for many fans, who had long called for a formal end to the acrimonious Madrox era.

Where does Juan Sartori now stand in terms of his day-to-day role at Sunderland?

Sartori, of course, remains as a link to the Donald era and to many supporters he remains something of an enigmatic figure.

He is vice-president at AS Monaco and has major political ambitions in Uruguay. As such his involvement in Sunderland is relatively limited. He does attend some games, and also sits on the board.

Perhaps the biggest difference from the early days of his time on Wearside is that he was then spoken of as a potential major player in the club's future, with a larger role more than once said to be in the offing. Now he is seen as a close ally of Louis-Dreyfus but very much the secondary partner, offering counsel and of course financial support.

Louis-Dreyfus has spoken of the role Sartori can play in terms of his contacts, and the pair as said to be closely aligned in their long-term vision.

How Sartori's involvement develops in line with his other interests remains unknown, but there is no doubt that Louis-Dreyfus is now very much the driving force at the club.

Perhaps the most significant aspect of this news is that after over a decade of tumult, supporters can now expect a period of stability at boardroom level. That could only be a positive in terms of what then happens on the pitch.

Sunderland's statement in full

"Sunderland AFC today announces that Kyril Louis-Dreyfus has increased his shareholding in the Club.

"Mr Louis-Dreyfus has increased his stake to 64%, with Juan Sartori increasing his stake to 36%.

"The shares have been acquired through the purchase of shares previously held by Stewart Donald, who has now exited the Club’s shareholder group entirely.

"SAFC’s Board of Directors remains unchanged."