Leeds owner Andrea Radrizzani agrees the terms of a full sale of the club to the San Francisco 49ers investment fund…and details of the deal are being passed to the EFL TODAY
- Leeds owner Andrea Radrizzani has agreed on the full sale of the club
- The San Francisco 49ers investment fund already owns 44 percent of the Leeds club
- The management of the club is expected to remain in the hands of Angus Kinnear
Leeds owner Andrea Radrizzani has agreed terms of a full sale of the club to the San Francisco 49ers investment fund. The details of the deal were passed to the EFL this afternoon for ratification.
Mail Sport has learned the 100 per cent takeover by 49ers Enterprises in a deal worth Leeds at around £170 million, including ownership of Elland Road, despite Radrizzani previously offering the ground as security in talks to buy Italian club Sampdoria to buy.
49ers Enterprises already own 44 per cent of Leeds after first acquiring a 15 per cent stake in 2018, the year after Radrizzani paid fellow Italian Massimo Cellino £44 million for the entire club.
It is understood that 49er Enterprises includes more than 60 investors, the most famous of whom are chairman Paraag Harathe and Peter Lowry, an Australian billionaire whose family founded the Westfield shopping centre.
Harathe and Lowry are both already on the Leeds board but are expected to make additional appointments as they plan to remain in the United States. Day-to-day management of the club is expected to remain in the hands of CEO Angus Kinnear, who has developed good relations with both men after being recruited by Radrizzani from West Ham six years ago.
Leeds owner Andrea Radrizzani has agreed terms of a full sale of the club to the San Francisco 49ers investment fund and details of the deal have been passed on to the EFL.
Mail Sport has learned that the 100 per cent takeover by 49ers Enterprises in a deal that values Leeds at around £170 million includes ownership of Elland Road
Radrizzani had agreed a £420 valuation with the 49ers that would have earned him more than £200 million from selling his remaining 56 per cent stake, but that was conditional on Leeds retaining Premier League status.
However, as Mail Sport revealed last month, the 49ers’ valuation fell by £220 million following relegation, leading to intense negotiations over the past 10 days to salvage the deal.
Radrizzani’s success last week in reaching a deal to buy Sampdoria without ultimately using Elland Road marked a major breakthrough, and further positive talks took place yesterday.
The Premier League is believed to have given their approval to the deal which has now been handed over to the EFL, who are tasked with ensuring all 49ers investors meet their Owners and Directors test.