| So, what attracted you to the 23 year old swiss billionaire to own your club? 15:36 - Feb 18 with 1585 views | Dalenet |
As Sunderland fans once again go on a spending frenzy we will see where it ends. This extract from the Chronicle sums up what happened last time
Donald added: "I am delighted to welcome Kyril Louis-Dreyfus to the club as our new chairman and controlling shareholder.
"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 £200m in debt, was losing £35m 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.
So not sure why Donald still claimed to be putting £1m a month of his own money into Sunderland or why they needed to take £2.75m out of the Premier League handout kitty. |  | | |  |
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