June 10, (THEWILL) – Leeds United owner, Andrea Radrizzani, has reached an agreement to sell his stake in the club to co-owners, 49ers Enterprises, in a deal valued at £170 million.
The 49ers Enterprises, the investment arm of the San Francisco 49ers, have witnessed their share in Leeds rise from 15% to 44% between 2018 and 2021. Radrizzani, who acquired Leeds for £45 million in 2017, will retain a 56% stake after the transaction. Initially, there were discussions for the 49ers to take full control of the club for a staggering £400 million, but the valuation dropped significantly following Leeds’ relegation to the Championship.
Leeds released a statement confirming the agreement between Aser Ventures and 49ers Enterprises for the club’s purchase. The details of the deal are still being finalised, and additional updates will be provided in due course. The club noted that their primary focus remains on making a swift return to the English Premier League.
However, Radrizzani’s departure was met with approval from The Leeds United Supporters Club, who expressed their discontent with his conduct during his tenure. In a statement released via the BBC, they said: “His behaviour is appalling and he risks never being welcome at our club again. The sooner he goes the better and we look forward to the 49ers Enterprises offer being accepted. The only way he can begin to salvage his reputation is through an immediate sale of the club and the stadium.”
During his time as owner, Radrizzani’s popularity steadily declined, reaching its lowest point when he made the controversial decision to dismiss manager Marcelo Bielsa. Fans voiced their displeasure and called for his departure during Leeds’ 4-1 defeat to Tottenham Hotspur, which sealed their relegation. For the 49ers’, their primary objective is a swift return to the EPL. The consortium is led by Denise DeBartolo York as the chairman, while her son Jed York serves as the 49ers’ CEO and president. According to Forbes, the family’s net worth stands at an impressive £4.05 billion ($5.1bn).
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
