Leeds United’s takeover has officially been completed by American investment group 49ers Enterprises.
The EFL approved the full formal purchase of Leeds on Sunday, 17 July, for £170 million, taking full control of the club and seeing the Andrea Radrizzani era come to an end after six years.
49ers Enterprises have been involved in the club since 2018 when they purchased a 15% stake and increased their holdings in 2021 when they took control of 44% of the shares.
Now having taken charge of Radrizzani‘s stake, their new American owners are restructuring the club ahead of the new season.
Named as such through their ownership of the San Francisco 49ers NFL team, the enterprise is gradually growing its sports portfolio and will now be attempting to turn its hand away from American football to the beautiful game.
Paraag Marathe, previously vice chairman and a board member, will take over as Leeds United’s new chairman, with Rudy Cline-Thomas — founder and managing partner of MASTRY — joining the Board as co-owner and vice chair.
Angus Kinnear is set to stay on as CEO, stating that he believes the 49ers will bring “fresh leadership, management, and a commitment to investment” that will match their ambitions and allow them to once again become an “established top-flight club”.
With Leeds eyeing up a swift return to the Premier League after being relegated back to the Championship following a three-year stay back in the first division, they have appointed former Norwich head coach as their new manager.
- Leeds United offer fans season ticket rebate after relegation back to the Championship
- Greggs is giving away 1,000 free breakfasts for Lionesses first match
- Leeds skateboarder completes 170-mile journey to Britain’s highest pub for charity
Speaking on the announcement, Marathe said: “This transition is a necessary reset to chart a new course for the Club. We have already appointed a highly-respected First Team Manager with a track record of success, and we are confident Leeds will field a competitive squad to contend for promotion next season.
“It’s a privilege to carry this torch as I know we have a responsibility to ensure this Club makes our staff, players, supporters, and the Leeds and Yorkshire communities proud.”
As for the outgoing Radrizzani, he bid farewell by saying: “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. 49ers Enterprises have been fantastic partners for years and I’m confident they will take Leeds to the next level.”
Will they help get the Whites back where they belong at the first time of asking?
Featured Image — Leeds United