Leeds United chairman Andrea Radrizzani has reached an agreement to sell his stake in the club to co-owners 49ers Enterprises for £170m.
The San Francisco 49ers’ investment arm initially acquired a 15% stake in Leeds in 2018 and increased it to 44% in 2021.
Radrizzani, an Italian businessman, purchased Leeds outright for £45m in 2017, but his ownership stake has since decreased to 56%. Following their relegation from the Premier League on the final day of the season, Leeds are now preparing for the Championship.
The previous deal, contingent on Leeds’ survival in the top flight, was valued at approximately £400m. However, negotiations were reopened after the club’s drop to the second tier leading to a £170m sale.
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A statement released by the club confirmed the agreement: “Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club. Both parties are currently finalizing the details, and further updates will be provided soon. Our primary focus remains on making a swift return to the Premier League.”
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After relegation was confirmed, the Leeds United Supporters Club issued a statement expressing their dissatisfaction with Radrizzani, stating that he was “no longer an appropriate person to own Leeds United.”
The statement criticized his conduct and called for him to sell the club promptly, welcoming the offer from 49ers Enterprises. They emphasized that Radrizzani’s reputation could only be salvaged through an immediate sale of the club and the stadium.
Initially, Radrizzani enjoyed popularity among Leeds fans due to his role in appointing manager Marcelo Bielsa, who led the team back to the Premier League. However, the relationship between Radrizzani and Bielsa deteriorated after the latter’s dismissal, and Radrizzani did not attend Leeds’ final match, a defeat against Tottenham that sealed their relegation, while fans chanted for him to leave.
Radrizzani’s Aser Holding Company recently acquired a stake in the Italian club Sampdoria.
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