Kyril Louis-Dreyfus has announced an increase of his shares of Sunderland.
His ownership of the club has now reached 51 per cent amid interest from a cryptocurrency firm to purchase the Black Cats.
Louis-Dreyfus initially took over the club in 2021, but has now purchased shares from Charlie Methven and Stewart Donald.
As well as this, Juan Satori has also increased his stake in the club to 30 per cent.
Methven has sold all of his shares in the club, with Donald now owning 19 per cent stake in Sunderland.
The Chairman has claimed this marks a next step forward for the club and his ambitions at the Stadium of Light.
He also confirmed that no further shares will be sold to any third-party despite recent reports of The Fans Together’s interest.
“Today marks an important step as we continue to rebuild Sunderland AFC,” wrote Louis-Dreyfus, via the club’s official website.
“Following the 2021-22 season, it was the intention of Juan and I to ensure the ongoing speculation relating to the Club’s shareholding was addressed as soon as possible.
“Our ownership group has been consolidated and there will be no further sale of shares to a third-party buyer.
“We remain committed to our strategy of delivering long-term success and sustainability and together, alongside our dedicated staff and loyal supporters, I believe we can now move forward as one unified football club.”
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Sunderland are now preparing for life back in the Championship following their play-off final victory over Wycombe Wanderers in May.
Alex Neil has led the team back to the second division having taken over midway through the most recent campaign.
Neil replaced Lee Johnson in February, steering the club to a 5th place finish in League One.
This is a positive step for the club considering the recent reports were quite concerning.
The cryptocurrency group looking to gain shares of Sunderland would have been a big step backwards so it is a relief for supporters to hear that they will not be coming in.
Now the focus must be on helping Neil build a squad capable of competing in the Championship.
Promotion was a huge milestone for the Black Cats, who should be aiming to be competitive in the second division from the off.