Leeds United have announced that the club has new owners, after a deal was reached between Aser Ventures and 49ers Enterprises.
Talks have been ongoing between the 49ers Enterprises and soon to be former owner Andrea Radrizzani for some time over a complete takeover deal. Leeds released a statement on Friday evening to confirm the change of ownership, with the focus being on returning to the Premier League.
"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. Marching on Together."
It was made clear by the Leeds owners that they were keen on a sale after the club were relegated from the Premier League, failing to survive on the final day of the 2022/23 season. Leeds ended up finishing 19th to return to the Championship after three seasons.
49ers Enterprises already owned 44 percent of Leeds, and talks over a £400million fee to control 100 percent of the team were discussed. However, as reported by The Telegraph it became clear that the valuation dropped to around £170m after the club were relegated to the second tier.
Leeds and the 49ers have been connected since 2018, when 49ers Enterprises initially bought a 15 percent stake. Elland Road has even hosted watch parties for recent NFL playoff games involving the 49ers, with the NFL growing in popularity in the United Kingdom.
But now the consortium that own the 49ers have complete control of the Championship club, and will look to get them back into the top flight as soon as possible. The chairman of the consortium is Denise DeBartolo York, a 72-year-old American billionaire who is the daughter of well known construction businessman Edward DeBartolo Sr.
Jed York is the son of Denise, and current CEO and president of the 49ers. According to Forbes, the family has a net worth of £4.05billion ($5.1bn). However, the consortium reportedly has over 60 investors making it one of the wealthiest ownership groups in America.
