Leeds United announced on Tuesday that the English Football League (EFL), the body which manages the three divisions under the Premier League, has approved the takeover of the club by the American group 49ers Enterprises.
The American investment group, which already owns the NFL franchise of the San Francisco 49ers, will buy all the shares of the Leeds club from Andrea Radrizzani, owner since 2017. “This is an important moment in the history of Leeds United, and we are already at work”, assured the president of 49ers Enterprises Paraag Marathe, who will become president and member of the board of directors of the Yorkshire club.
Holder of 44% of the club’s shares since 2021, 49ers Entreprises has activated a clause allowing it to buy the remaining 56% of shares from Radrizzani before January 2024.
This contract had estimated the club at 465 M EUR (400 M pounds) but the club’s recent relegation to the second division led to a renegotiation. Today, the club is said to be worth only around €198m (£170m). Last month, the Peacocks appointed former Norwich manager Daniel Farke as manager, with the aim of an immediate return to the top flight.
Leeds is far from the first English club to go under the American flag. Many Premier League clubs such as Manchester United, Arsenal, Liverpool, Chelsea and Aston Villa have American investors or investment funds as their main shareholders.
Another example is Welsh club Wrexham, recently promoted to League Two, the fourth tier of English football, owned by Hollywood actors Ryan Reynolds and Rob McElhenney.
