Leeds close to full takeover by 49ers fund

Leeds owner Andrea Radrizzani has agreed the terms of a complete sale of the club to the san Francisco 49ers investment fund.

Details of the deal were yesterday sent to the EFL for ratification. The 100 per cent takeover by 49ers enterprises, in a deal that values Leeds at about £170million, includes the ownership of elland Road, despite Radrizzani having previously offered the ground as security in talks to buy Italian club sampdoria.

49ers enterprises already owns 44 per cent of Leeds having first acquired a 15 per cent stake in 2018, the year after Radrizzani paid fellow Italian Massimo Cellino £44m for the entire club. It is understood that 49er enterprises comprises more than 60 investors, the most well-known of whom are chairman Paraag Marathe and Peter Lowy, an Australian billionaire whose family founded the Westfield shopping centre empire.

Marathe and Lowy are both already on the Leeds board but are expected to make additional appointment as they plan to remain based in the United states. Leeds chief executive Angus Kinnear is expected to continue the dayto-day running of the club.

Radrizzani had agreed a valuation of £420m with the 49ers that would have netted him more than £200m from selling his remaining 56 per cent shareholding, but that was contingent upon Leeds staying in the Premier League. The 49ers valuation dropped by £220m following relegation, however, which has led to intense negotiations over the last 10 days to salvage the deal.

Radrizzani’s success last week in agreeing a deal to buy sampdoria without ultimately using elland Road was a significant breakthrough, with further positive talks taking place yesterday. The Premier League are understood to have given their approval of the deal, which has been passed to the EFL who have been tasked with ensuring that all the 49ers investors comply with their Owners’ and directors’ Test.