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HomeSportsLeeds United: 49ers Enterprises full takeover from Andrea Radrizzani | Soccer Information

Leeds United: 49ers Enterprises full takeover from Andrea Radrizzani | Soccer Information

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Leeds United have introduced the EFL has authorised the sale of the membership to American funding group 49ers Enterprises.

Andrea Radrizzani, chairman and majority shareholder since 2017, agreed to promote his controlling stake final month, with the deal valuing the membership at round £170m.

49ers Enterprises, which owns NFL franchise the San Francisco 49ers, has steadily elevated its stake in Leeds since turning into a minority shareholder in 2018.

Paraag Marathe, beforehand vice chairman, will take over as chairman. Chief government Angus Kinnear will stay in his present place and Rudy Cline-Thomas, founder and managing companion of enterprise capital agency MASTRY, will be a part of the board as co-owner and vice chairman.

“This is a vital second for Leeds United and we’re already arduous at work,” Marathe mentioned. “This transition is a essential reset to chart a brand new course for the Membership.

“We now have already appointed a highly-respected First Staff Supervisor with a monitor report of success, and we’re assured Leeds will subject a aggressive squad to contend for promotion subsequent season. It is a privilege to hold this torch as I do know we’ve got a duty to make sure this Membership makes our employees, gamers, supporters, and the Leeds and Yorkshire communities proud.”

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Jordan Spieth has revealed that Rickie Fowler pulled out of the 49ers group about to takeover Leeds United, topic to EFL checks. Spieth and Justin Thomas bought shares within the 49ers group and he’s enthusiastic about the way forward for the membership

Three-time major-winning golfer Jordan Spieth and two-time PGA Championship winner Justin Thomas have bought shares in 49ers Enterprises.

49ers Enterprises elevated its stake in Leeds to 44 per cent in 2021 with the choice of shopping for Radrizzani’s remaining 56 per cent earlier than January 2024.

The Individuals had been eager to push by means of a full takeover this summer season however that settlement, which had valued Leeds at round £400m, was contingent on the membership remaining within the Premier League.

Leeds’ relegation final month compelled each events again into intense negotiations and a valuation of near £170m has been agreed.

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Newly appointed Leeds United supervisor Daniel Farke desires to reset the mentality on the membership and means that his facet might want to make successful video games a ‘behavior’

The deal marks the top of Radrizzani’s six-year possession of Leeds. He accomplished a full takeover from fellow Italian Massimo Cellino in 2017 and initially proved massively widespread.

Radrizzani purchased again Elland Highway stadium, which had been in non-public possession since 2004, and introduced in contemporary funding when 49ers Enterprises bought its first 10 per cent stake in 2018.

The appointment of Marcelo Bielsa quickly after proved a masterstroke as Leeds received promotion again to the Premier League for the primary time in 16 years.

49ers Enterprises has steadily elevated its stake, whereas Radrizzani’s relationship with the Leeds fanbase started to bitter when Bielsa was sacked in February 2022.

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FREE TO WATCH: Highlights of Leeds’ 4-1 loss to Tottenham which noticed them relegated from the Premier League

Leeds escaped relegation on the ultimate day of the 2021-22 season underneath Bielsa’s successor Jesse Marsch and Radrizzani promised the membership wouldn’t be concerned in one other survival battle.

However outcomes this previous season failed to enhance and after Marsch was sacked in February, his substitute Javi Gracia after which Sam Allardyce, appointed with 4 video games remaining, did not halt the slide.

When relegation was confirmed with a final-day defeat to Tottenham, Radrizzani was absent from Elland Highway, opting as a substitute to stay in Italy to finalise his takeover of Sampdoria.

He later admitted Leeds’ board had made errors and apologised for the membership’s relegation in a private assertion posted on social media.

However after it emerged he had provided to make use of Elland Highway as collateral when securing a £26m financial institution mortgage to purchase Sampdoria – one among his corporations and never Leeds owned the stadium – his legacy was additional tainted.

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