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Once again a lunatic Billionaire has taken the reins at a once proud club that've had an owner lavish money on them to throw the towel in as they slide down the leagues..
Will they be the summers next big silly spenders?
And if so, who can we package and sell them?!
Revealed: Kyril Louis-Dreyfus' plans as completion of Sunderland takeover nears
Telegraph Sport takes an in depth look at the new owner’s plans to reverse years of decline
By Luke Edwards 11 February 2021 • 11:04am
Kyril Louis-Dreyfus watched Sunderland take on Shrewsbury Town Credit: GETTY IMAGES
The darkest moment of the night always comes in the moments before a new dawn, but just as that is of little comfort to a small child staring into the blackness, imagining the monsters lurking within, it is doing little to lift the spirits of Sunderland supporters after a defeat to Shrewsbury Town that leaves them seventh in League One.
The Black Cats are on the brink of a bright new era at the Stadium of Light. The wealthy young Frenchman, Kyril Louis-Dreyfus, is awaiting the all-clear from the Football League to take control of a floundering club.
A deal has long been agreed with current owner Stewart Donald. Indeed, the takeover was all but confirmed by Sunderland back in December, an official club statement lost amid the festivities on Christmas Eve, but is still awaiting final sign from the Football League.
The positive impact of this regime change is yet to be felt, but it is coming. Sunderland will not only have greater financial backing, but also new leadership and ideas.
Dreyfus was in the stands at New Meadow Stadium as Sunderland lost 2-1 on Tuesday night and Telegraph Sport can bring you the first in depth look at the new owner’s plans to reverse years of decline.
The structure of the deal
Dreyfus has overseen decision making at the Stadium of Light for several weeks and was behind the appointment of both sporting director Kristjaan Speakman and manager Lee Johnson at the start of December. He is already making all the major calls behind the scenes and intends to move to the North East, once the EFL have signed off on the deal, as he does not want to be seen as an absentee landlord.
As majority shareholder he will have the final say on every decision, with Speakman advising him and offering his experience and football expertise.
Although the exact price of the 23-year-old’s investment remains unknown, Telegraph Sport can confirm that the club will not be saddled with any debt as a result.
Unlike the deal that saw ALK Capital take charge of Burnley, the takeover is not leveraged - loans taken out and then transferred to the club, along with payment of all the necessary interest payments. The club will own both the Stadium of Light and the training ground.
It has not been possible to assess Dreyfus’ personal wealth, but as the son of the late Swiss-French Businessman Robert Louis-Dreyfus, he has access to a trust fund estimated to be worth around £2bn.
His mother, Margarita Bogdanova - who remains a minority shareholder at Marseille, the club her husband once controlled - has been described as the richest Russian woman in the world, with an estimated wealth of around $5.6 billion, according to Forbes magazine.
Both Sunderland and the EFL have refused to comment publicly on the progress of their checks, but confirmation of the takeover is expected shortly.
The football management
The appointment of Speakman is the foundation stone of the Dreyfus rebuild. The 41-year-old spent 14 years at Birmingham City, with nine years in charge of the Academy responsible for the nurturing of England wonderkid Jude Bellingham, sold to Borussia Dortmund last summer for an initial £25m, as well as Premier League players Jack Butland, Demarai Gray and Nathan Redmond.
He will be responsible for deciding the direction of the football operation with chief executive Jim Rodwell in control of finances. Both men are under Dreyfus’ overall control, who spent a considerable amount of time looking for the right people to put his ideas into practice.
Speakman has made it clear that Sunderland will retain their Category One Academy status, at a cost of around £5m a year, as he sees the recruitment and development of players from the North East as crucial to the club’s long-term success. This is also a priority for the new owner, who feels the region has not made the most of the talent on its doorstep.
Speakman will also work with manager Lee Johnson on recruitment and plans are already being made for the summer transfer window, even though the club do not know what division they will be in next season.
Lee Johnson was appointed at the start of December Credit: GETTY IMAGES
Johnson was always the first choice to replace Phil Parkinson when he was sacked back in November and has been in regular contact with Dreyfus since he arrived at the club. He also spoke to the owner in waiting before he accepted the job offer back in December and was persuaded to come because of the assurances he was given in that conversation.
The 39-year-old was appointed because of his knowledge of the lower leagues and his coaching ability, after impressing at Bristol City, where he narrowly missed out on reaching the Championship play-offs.
Transfer budget and Academy plans
The Football League’s financial fair play rules will not allow Dreyfus to plough his own money in to fund extravagant transfers or wages. Spending will be restricted to 60 per cent of club turnover, following the decision to scrap the League One and Two wage cap this week.
Sunderland’s spending will remain cautious in the short term as that budget will be decided on this season’s financial figures. That is a significant blow, as the Coronavirus pandemic has deprived Sunderland of their main source of income – and competitive edge over the rest of League One - from matchday attendances at a 48,000 capacity stadium.
The cost of refunding season ticket holders for matches being played behind closed doors will also have to be taken into consideration.
Sunderland’s wage budget was around £11m last season before the salary cap was introduced - the largest seen in the third tier.
That, though, has been significantly reduced this term because of the salary cap and the club no longer benefits from Premier League parachute payments. As a result, the club is yet to determine what their budget will be next season, with sources indicating it is unlikely to be a vast increase on this year’s figure.
One of the key parts of the Dreyfus plan is youth development. Speakman has made it clear he will ensure Sunderland retain their Category One Academy status, at a cost of around £5m a year.
He sees the recruitment and development of players from the North East as crucial to the club’s long-term success. This is also a priority for the new owner.
Sources have told Telegraph Sport that Dreyfus intends to get the “football alchemy right” after inheriting a club that has spent three seasons trying to get out of League One and has recruited and sacked two managers – Jack Ross and Parkinson.
The main failing has been player recruitment and, working with Johnson, this is a priority area to improve. The aim is to sign players, with both the ability and character to succeed in a Sunderland shirt.
Although data analysis and modern scouting methods will be used, Johnson will be expected to help identify players with the mental attributes required, in recognition that many lower league players are not used to dealing with the challenges of playing for a club of Sunderland’s size and stature.
The role of the old owners
Although former owners Stewart Donald and Charlie Methven will retain shares in the club and stand to benefit financially if the club is sold in the future, they will have no say in decisions at the Stadium of Light.
Donald, though, is confident Dreyfus is the right person to succeed where he failed since taking control in 2018.
Will they be the summers next big silly spenders?
And if so, who can we package and sell them?!
Revealed: Kyril Louis-Dreyfus' plans as completion of Sunderland takeover nears
Telegraph Sport takes an in depth look at the new owner’s plans to reverse years of decline
By Luke Edwards 11 February 2021 • 11:04am
Kyril Louis-Dreyfus watched Sunderland take on Shrewsbury Town Credit: GETTY IMAGES
The darkest moment of the night always comes in the moments before a new dawn, but just as that is of little comfort to a small child staring into the blackness, imagining the monsters lurking within, it is doing little to lift the spirits of Sunderland supporters after a defeat to Shrewsbury Town that leaves them seventh in League One.
The Black Cats are on the brink of a bright new era at the Stadium of Light. The wealthy young Frenchman, Kyril Louis-Dreyfus, is awaiting the all-clear from the Football League to take control of a floundering club.
A deal has long been agreed with current owner Stewart Donald. Indeed, the takeover was all but confirmed by Sunderland back in December, an official club statement lost amid the festivities on Christmas Eve, but is still awaiting final sign from the Football League.
The positive impact of this regime change is yet to be felt, but it is coming. Sunderland will not only have greater financial backing, but also new leadership and ideas.
Dreyfus was in the stands at New Meadow Stadium as Sunderland lost 2-1 on Tuesday night and Telegraph Sport can bring you the first in depth look at the new owner’s plans to reverse years of decline.
The structure of the deal
Dreyfus has overseen decision making at the Stadium of Light for several weeks and was behind the appointment of both sporting director Kristjaan Speakman and manager Lee Johnson at the start of December. He is already making all the major calls behind the scenes and intends to move to the North East, once the EFL have signed off on the deal, as he does not want to be seen as an absentee landlord.
As majority shareholder he will have the final say on every decision, with Speakman advising him and offering his experience and football expertise.
Although the exact price of the 23-year-old’s investment remains unknown, Telegraph Sport can confirm that the club will not be saddled with any debt as a result.
Unlike the deal that saw ALK Capital take charge of Burnley, the takeover is not leveraged - loans taken out and then transferred to the club, along with payment of all the necessary interest payments. The club will own both the Stadium of Light and the training ground.
It has not been possible to assess Dreyfus’ personal wealth, but as the son of the late Swiss-French Businessman Robert Louis-Dreyfus, he has access to a trust fund estimated to be worth around £2bn.
His mother, Margarita Bogdanova - who remains a minority shareholder at Marseille, the club her husband once controlled - has been described as the richest Russian woman in the world, with an estimated wealth of around $5.6 billion, according to Forbes magazine.
Both Sunderland and the EFL have refused to comment publicly on the progress of their checks, but confirmation of the takeover is expected shortly.
The football management
The appointment of Speakman is the foundation stone of the Dreyfus rebuild. The 41-year-old spent 14 years at Birmingham City, with nine years in charge of the Academy responsible for the nurturing of England wonderkid Jude Bellingham, sold to Borussia Dortmund last summer for an initial £25m, as well as Premier League players Jack Butland, Demarai Gray and Nathan Redmond.
He will be responsible for deciding the direction of the football operation with chief executive Jim Rodwell in control of finances. Both men are under Dreyfus’ overall control, who spent a considerable amount of time looking for the right people to put his ideas into practice.
Speakman has made it clear that Sunderland will retain their Category One Academy status, at a cost of around £5m a year, as he sees the recruitment and development of players from the North East as crucial to the club’s long-term success. This is also a priority for the new owner, who feels the region has not made the most of the talent on its doorstep.
Speakman will also work with manager Lee Johnson on recruitment and plans are already being made for the summer transfer window, even though the club do not know what division they will be in next season.
Lee Johnson was appointed at the start of December Credit: GETTY IMAGES
Johnson was always the first choice to replace Phil Parkinson when he was sacked back in November and has been in regular contact with Dreyfus since he arrived at the club. He also spoke to the owner in waiting before he accepted the job offer back in December and was persuaded to come because of the assurances he was given in that conversation.
The 39-year-old was appointed because of his knowledge of the lower leagues and his coaching ability, after impressing at Bristol City, where he narrowly missed out on reaching the Championship play-offs.
Transfer budget and Academy plans
The Football League’s financial fair play rules will not allow Dreyfus to plough his own money in to fund extravagant transfers or wages. Spending will be restricted to 60 per cent of club turnover, following the decision to scrap the League One and Two wage cap this week.
Sunderland’s spending will remain cautious in the short term as that budget will be decided on this season’s financial figures. That is a significant blow, as the Coronavirus pandemic has deprived Sunderland of their main source of income – and competitive edge over the rest of League One - from matchday attendances at a 48,000 capacity stadium.
The cost of refunding season ticket holders for matches being played behind closed doors will also have to be taken into consideration.
Sunderland’s wage budget was around £11m last season before the salary cap was introduced - the largest seen in the third tier.
That, though, has been significantly reduced this term because of the salary cap and the club no longer benefits from Premier League parachute payments. As a result, the club is yet to determine what their budget will be next season, with sources indicating it is unlikely to be a vast increase on this year’s figure.
One of the key parts of the Dreyfus plan is youth development. Speakman has made it clear he will ensure Sunderland retain their Category One Academy status, at a cost of around £5m a year.
He sees the recruitment and development of players from the North East as crucial to the club’s long-term success. This is also a priority for the new owner.
Sources have told Telegraph Sport that Dreyfus intends to get the “football alchemy right” after inheriting a club that has spent three seasons trying to get out of League One and has recruited and sacked two managers – Jack Ross and Parkinson.
The main failing has been player recruitment and, working with Johnson, this is a priority area to improve. The aim is to sign players, with both the ability and character to succeed in a Sunderland shirt.
Although data analysis and modern scouting methods will be used, Johnson will be expected to help identify players with the mental attributes required, in recognition that many lower league players are not used to dealing with the challenges of playing for a club of Sunderland’s size and stature.
The role of the old owners
Although former owners Stewart Donald and Charlie Methven will retain shares in the club and stand to benefit financially if the club is sold in the future, they will have no say in decisions at the Stadium of Light.
Donald, though, is confident Dreyfus is the right person to succeed where he failed since taking control in 2018.
