Leeds United chairman Andrea Radrizzani has agreed to sell his stake at the relegated club to co-owners 49ers Enterprises for £170m.
This was announced by the club in a club statement released on their website.
“Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club.
“Both parties continue to work through the details, and further updates will be provided soon. All of our focus remains on a quick return to the Premier League.”
Radrizzani bought Leeds outrightly for £45m in 2017, but in 2018, he sold 15% stake in the club to 49ers. In 2021, the San Francisco side increased their stake in the club to 44%.
With 49ers now owning the club outrightly, they will put focus on helping Leeds achieve a quick return to the Premier League.
The 49ers Enterprises is an investment fund owned by the York family, who also own the San Francisco 49ers. The Athletic reported that at least 11 major investors constitute the consortium that has bought the Elland Road side.
