The Leeds club announced on Saturday that its president Andrea Radrizzani has reached an agreement with the American investment fund 49ers Enterprises to sell him his majority stake.
Already a shareholder with 44% of the Peacocks, 49ers Enterprises, which is also the financial arm of the San Francisco American football franchise, is preparing to buy the 56% owned by the Italian businessman through his holding Aser Ventures .
“Both parties will continue to work out the details” of the takeover, however, specifies the press release which adds that the club remains “fully focused on a rapid return to the Premier League”.
Leeds’ relegation weighed heavily on the value of the deal, according to the press. While 49ers Enterprises had an option to buy Radrizzani’s share before January 2024 based on a club valuation of EUR460m, Radrizzani would only be worth around EUR200m under the terms of the deal.
Arrived at the head of Leeds in 2017, Radrizzani had brought the Yorkshire club back to the Premier League for the first time in 16 years, in 2020, by achieving the feat of convincing Marcelo Bielsa to join his bench. But from the second season in the elite, the results of are degraded, leading to the dismissal of the Argentinian, and despite two new changes of coaches during the season, Leeds finished in 19th place this year, synonymous with relegation .
