San Francisco 49ers owners complete Leeds takeover for £170m
July 18 - The owners of the NFL's San Francisco 49ers have taken full control of English Tier 2 club Leeds United after the English Football League formally approved a £170million takeover by 49ers Enterprises.
The 49ers' investment arm bought a 15% stake in Leeds in 2018 and increased it to 44% in 2021. They now have full control after announcing the purchase from the Italian majority shareholder Andrea Radrizzani.
Leeds were relegated from the Premier League at the end of last season.
"This transition is a necessary reset to chart a new course for the club," said new chairman Paraag Marathe. "This is an important moment for Leeds United and we are already working hard."
Leeds have also confirmed that current chief executive Angus Kinnear will remain in his current role.
The club appointed former Norwich City boss Daniel Farke as their new manager two weeks ago on a four-year deal. "We have already appointed a highly respected first-team manager with a track record of success, and we are confident that Leeds will field a competitive squad to challenge for promotion next season," added Marathe.
"We have a responsibility to ensure that this club does our staff, our players, our supporters and the communities of Leeds and Yorkshire proud."
Radrizzani had initially been popular with Leeds fans, with Marcelo Bielsa bringing them back to the Premier League.
But the relationship soured after the Argentine was sacked and he did not attend their last game of last season, a loss to Tottenham that sealed their relegation as fans chanted for him go.
Contact the author of this story at moc.l1689693019labto1689693019ofdlr1689693019owedi1689693019sni@w1689693019ahsra1689693019w.wer1689693019dna1689693019
July 18 - The owners of the NFL's San Francisco 49ers have taken full control of English Tier 2 club Leeds United after the English Football League formally approved a £170million takeover by 49ers Enterprises.
The 49ers' investment arm bought a 15% stake in Leeds in 2018 and increased it to 44% in 2021. They now have full control after announcing the purchase from the Italian majority shareholder Andrea Radrizzani.
Leeds were relegated from the Premier League at the end of last season.
"This transition is a necessary reset to chart a new course for the club," said new chairman Paraag Marathe. "This is an important moment for Leeds United and we are already working hard."
Leeds have also confirmed that current chief executive Angus Kinnear will remain in his current role.
The club appointed former Norwich City boss Daniel Farke as their new manager two weeks ago on a four-year deal. "We have already appointed a highly respected first-team manager with a track record of success, and we are confident that Leeds will field a competitive squad to challenge for promotion next season," added Marathe.
"We have a responsibility to ensure that this club does our staff, our players, our supporters and the communities of Leeds and Yorkshire proud."
Radrizzani had initially been popular with Leeds fans, with Marcelo Bielsa bringing them back to the Premier League.
But the relationship soured after the Argentine was sacked and he did not attend their last game of last season, a loss to Tottenham that sealed their relegation as fans chanted for him go.
Contact the author of this story at moc.l1689693019labto1689693019ofdlr1689693019owedi1689693019sni@w1689693019ahsra1689693019w.wer1689693019dna1689693019
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