The Belgium international knew from Tuesday morning that his Lyon career was over, but had no idea which club he would join until late in the evening.
His first choice, according to sources close to the deal, was a move to Arsenal, who were offered the player by his entourage in the closing stages of the window.
His representatives believed the Gunners had shown genuine interest once they began examining the opportunity more seriously, but Arsenal quickly made clear they would not meet Lyon's €40million valuation.
That opened the door for two other Premier League clubs to move. Hull City were ruled out early by the player himself, but Sunderland and Crystal Palace both pushed hard, with an agreement between Lyon and Sunderland reached around midday for a total package of €35million including bonuses.
Fofana appeared ready to join Régis Le Bris's side, only for Palace to return with an improved offer shortly before 2pm, with Pierre Sage, who knows the player well from their time together at Lyon, spending a long period on the phone convincing him to reconsider.
By around 3pm, Lyon and Palace had reached their own agreement for just under €40million, with personal terms also settled between the London club and the player. But the saga was far from over, reports Foot Mercato.
Sunderland regained the advantage around 5:30pm, helped by substantial commissions promised to Fofana's agents at Roc Nation, the agency that also employs the player's uncle, who is understood to have negotiated a lucrative additional payment for himself.
Palace then moved back in front just before 8pm by matching the financial terms the player's camp had been requesting throughout the day.
Fofana completed his medical in Lyon without knowing which club he would ultimately join, with the balance finally tipping in Sunderland's favour shortly after 10pm. The move was confirmed as the Black Cats' fifth signing of the summer, with the deal worth just under €40million in total.
Lyon walk away with a significant fee, though the protracted saga is understood to have complicated other transfer business at the club, including a deal for Youssouf Fofana, who signed for Sevilla instead, with Keito Nakamura brought in as a replacement for Malick Fofana in Lyon's own squad.