Leeds United are now owned by 49ers Enterprises, the investment arm of global NFL brand the San Francisco 49ers after the English Football League formally approved the £170m takeover.
The 49ers took an initial 15 per cent stake in Leeds in 2018 and increased that to 44 per cent in 2021.
The deal to complete purchase of Andrea Radrizzani’s remaining share valued the Championship club at around £170m.
Leeds were relegated from the Premier League last month following a disappointing season which saw them notch up just 10 wins and harvest just 31 points in the process.
Former vice-chairman Paraag Marathe will become chair, while chief executive Angus Kinnear will continue in his role. Rudy Cline-Thomas, founder and managing partner of venture capital firm Mastry, will join the board as co-owner and vice chairman.
Marathe said: “This transition is a necessary reset to chart a new course for the club. This is an important moment for Leeds United and we are already hard at work. We are confident Leeds will field a competitive squad to contend for promotion next season.”
Kinnear added: “49ers Enterprises is bringing fresh leadership, management and a commitment to investment, which I’m confident will meet our ambition to compete for promotion and remain in the top flight as an established Premier League Club. I know Paraag, Rudy and 49ers Enterprises will keep supporters central to their plans during their custodianship and I am excited to work in realising the true potential of this great club.”
Radrizzani had bought Leeds outright for £45m in 2017 but his stake had reduced to 56 per cent by the time he sold up and claimed that the new custodians would move the club forward.
“It has been an honour to guide Leeds United over the last six years and to spend so much time with the best fanbase in the world,” the Italian businessman, who recently bought a stake in Italian side Sampdoria through his Aser Holding Company, said. “49ers Enterprises have been fantastic partners for years and I’m confident they will take Leeds to the next level.”
Radrizzani had initially been popular with Leeds fans, with coach Marcelo Bielsa taking the club back to the Premier League following a 16-year absence in 2020.
The relationship soured after Radrizzani sacked the Argentine, and after relegation was confirmed, the Leeds United Supporters Club released a statement saying Radrizzani was “no longer an appropriate person to own Leeds United.”
Bookies installed Leeds United as 5/2 second favourites for an immediate return to the Premier League following confirmation of the takeover, behind only fellow relegated side, and 2016 Premier League champions Leicester City.
