Leeds United confirm minority shareholders 49ers Enterprises will take full control of the club… ending Andrea Radrizzani’s ownership of the former Premier League side
- Leeds United have confirmed that 49ers Enterprises will buy the football club
- The American group of 60 investors was already a minority shareholder in Leeds
- This ends Andrea Radrizzani’s ownership of the Yorkshire club, which began in 2017
US group 49ers Enterprises will be the new owner of Leeds United after the club announced terms for a full takeover had been agreed.
Mail Sport revealed on Tuesday that current chairman Andrea Radrizzani has reached an agreement to sell his majority 56% stake to the investment arm of the San Francisco 49ers, which already owns a 44% share.
And a statement from the club read: “Leeds United can confirm that an agreement has been reached between Aser Ventures and 49ers Enterprises to purchase the club.
“Both parties are continuing to work out the details and further updates will be provided soon.” All our attention remains on a quick return to the Premier League.
The deal reached values Leeds at £170million and those involved in the 49ers investment group must now pass the EFL owners and directors test before the takeover is approved.
Leeds United have confirmed minority shareholders 49ers Enterprises will buy the club
The 100% takeover deal values Leeds at around £170million, including the Elland Road property
But Friday night’s announcement means the Americans can start making plans for the Championship season as they look to appoint a new manager and director of football.
49ers president Paraag Marathe is expected to take over as chairman, with current general manager Angus Kinnear remaining in his role.
Leeds were relegated from the Premier League at the end of last month and are looking to regroup as a Championship side.
American shareholders have been minority owners since 2018, but the full takeover ends Radrizzani’s ownership of Leeds United. He has been co-owner since January 2017 and full owner since May of the same year.
This ends Andrea Radrizzani’s tenure, since becoming full owner of Leeds in May 2017.
Earlier this week it was reported that details of the sale had been passed to the EFL for ratification, but this is the first time Leeds have made an official statement on the matter.
The EFL has been tasked with ensuring that all 49ers 60 investors comply with their owners and directors test.
49ers Enterprises already owns 44% of Leeds United, having first acquired a 15% stake in 2018.
Radrizzani’s Aser Company consortium recently completed a successful takeover of Italy’s Sampdoria.