Kyril Louis-Dreyfus has become English football's youngest chairman after the 23-year old completed his takeover of League One side Sunderland Thursday.
The Frenchman, the son of late Marseille owner and billionaire Robert Louis-Dreyfus, sealed the deal after being granted approval from the English Football League.
Louis-Dreyfus originally agreed to purchase a controlling interest in the Black Cats in December.
He watched the team lose 2-1 against Shrewsbury last week in his first public appearance since his takeover at the Stadium of Light was announced on Christmas Eve.
Former Sunderland owner Stewart Donald will keep a minority shareholding.
Sunderland AFC manager David Moyes has resigned following their relegation from the Premier League this season, the northeast club said in a statement on Monday
Posted by Sports Tribune on Tuesday, 23 May 2017
Donald was unable to spark a revival in Sunderland's fortunes after they were relegated from the Championship in 2018.
The 1973 FA Cup winners were relegated from the Premier League in 2017 after 10 seasons in the top-flight.
Sunderland are seventh in the third-tier, a point outside the play-offs, as they chase a return to the Championship.
Louis-Dreyfus will also have a trip to Wembley to look forward to with his new club after Sunderland reached the Football League Trophy final with a penalty shootout victory over Lincoln Wednesday.