American investors 49ers Enterprises have moved a step closer to completing their takeover of Leeds United. An initial agreement has been reached with majority shareholder and owner Andrea Radrizzani regarding the purchase of Leeds with the deal expected to see them take complete control of the club.
49ers Enterprises, the investment arm of NFL giants San Francisco 49ers, have been shareholders at Elland Road since making their initial investment in May 2018. That stake in the club has been gradually increased over the last few years to 44 per cent, with Radrizzani’s Aser Group owning the other 56 per cent.
They have now agreed a deal to complete a takeover, subject to EFL approval. It has been reported that 49ers Enterprises had a deal in place to buy Radrizzani out if Leeds were able to retain their spot in the Premier League.
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Relegation seemed to complicate matters considerably, especially the price, but the deal is expected to reflect the club’s newfound second tier status.
Radrizzani has been the majority shareholder at Elland Road since purchasing the club from Massimo Cellino in May 2017. Leeds brought an end to their 16-year stint outside the top flight under his ownership and with Marcelo Bielsa as head coach, the Whites managed to achieve a ninth place finish in their first season back in the Premier League.
Unfortunately, the Italian, who recently purchased relegated Serie A club Sampdoria, has overseen successive relegation battles, with Leeds eventually slipping into the Championship last month.
A statement from the club on Friday evening read: "Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club.
"Both parties continue to work through the details, and further updates will be provided soon.
"All of our focus remains on a quick return to the Premier League.
"Thank you for your continued support."
