Sunderland have confirmed an agreement has been reached for Kyril Louis-Dreyfus to acquire Stewart Donald's controlling interest in the club.
Louis-Dreyfus, the son of former Marseille owner Robert Louis-Dreyfus, will become chairman of the Sky Bet League One club 'early in the New Year', subject to approval from the English Football League.
A statement on the club's official website read: 'Documentation relating to the deal has been lodged today with the EFL for their scrutiny, and the club recognises that the EFL need to approve all aspects of the transaction and business plan going forward before any change of control.