Leeds United owner Andrea Radrizzani is in talks with the 49ers Enterprises over the sale of the club.
He purchased the club in October 2017 and now the American group, who already own 44% of the club, want to buy the rest of it in a deal that could prove to be worth £500m ($619,335). Negotiations are said to be at an advanced stage after the 48-year-old flew to the US late last week to finalise a revised deal.
The American group, which owns NFL side the San Francisco 49ers, wants to acquire the remaining 56% stake from the Italian, but not at the price they had previously agreed. This is because that fee was discussed on the condition that the Whites avoided relegation from the Premier League.
But following a 4-1 defeat at home to Tottenham Hotspur on the final day of the season, a game Radrizzani did not attend, Leeds finished 19th and were relegated to the Championship after a three-year stint in the top flight.
Advanced negotiations over Radrizzani selling are now ongoing, accoring to Sky Sports. Football finance expert Keiran Maguire has explained how Leeds’ relegation will impact a possible takeover.
"There will be an impact. That will have been factored into the price the 49ers were willing to pay,” he told Sky Sports. "There are rumours Andrea Radrizzani, the Leeds owner, is looking to buy Sampdoria. I think we will see an announcement in terms of Leeds accelerate.
"Whatever's going to happen to Leeds over the summer, it's absolutely essential we have owners in place who can set a budget, stick to that budget and make key decisions in terms of management and player recruitment."
Sky Sports have reported that once the takeover has come to fruition, Radrizzani plans to oversee a transition period along with the club’s chief executive Angus Kinnear.
Kinnear is expected to stay in his role until the end of the net season with his priorities being to recruit a new coach and sporting director. Reports suggest Leeds are already assessing their options as they search for the right candidate to become the new manager at Elland Road.
The club looks set to replace Sam Allardyce after he picked up just one point and conceded 11 goals in his four games in charge. Following the confirmation of Leeds returning to the Championship, the club released a statement apologising to their fans.
“Everyone connected with Leeds United is deeply disappointed by the club’s relegation back to the Sky Bet Championship, after three seasons in the Premier League," they wrote.
“Relegation is painful, and we apologise to our fanbase that the performances this season have not seen the club consolidate our status as we had all hoped. However, Leeds United remains in a strong position to build a team that can challenge for promotion from the Championship next season.”
