Andrea Radrizzani agrees to sell £170m stake in Leeds United to San Francisco 49ers' investment arm
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Published 10/06/2023 at 08:09 GMT
The Andrea Radrizzani era is set to end at Elland Road after the Italian agreed to sell his stake to co-owners 49ers Enterprises. It is a deal worth £170 million and will end his much-maligned tenure in charge. Denise DeBartolo York is the consortium’s chairman, while her son is Jed York – the CEO and president of the 49ers. Forbes values the family’s net worth at £4.05 billion ($5.1bn).
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Andrea Radrizzani has agreed to sell his stake in Leeds United to co-owners 49ers Enterprises in a deal worth £170 million.
The 49ers Enterprises are the investment arm of the San Francisco 49ers, and have seen their stake in Leeds increase from 15% to 44% between 2018 and 2021.
Since purchasing Leeds for a fee of £45 million in 2017, Radrizzani’s stake has dropped to 56%.
The Telegraph reports there were talks for the 49ers to make a full takeover of the club in a deal worth £400 million, but this valuation dropped to £170 million following their relegation to the Championship.
Leeds said in a club statement: "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 has angered sections of the Leeds fanbase during his time in charge, and the Italian's departure was welcomed by The Leeds United Supporters Club.
They said in a statement published by the BBC: "His behaviour is appalling and he risks never being welcome at our club again. The sooner he goes the better and we look forward to the 49ers Enterprises offer being accepted. The only way he can begin to salvage his reputation is through an immediate sale of the club and the stadium."
The 48-year-old has seen his popularity gradually decline, and the high point of his tenure came when Marcelo Bielsa led Leeds back to the Premier League.
His reputation took a major hit with the decision to sack Bielsa, and fans were chanting for his departure during a 4-1 defeat to Tottenham which confirmed their relegation.
The Mirror reports that the 49ers’ aim will be to secure Leeds promotion back to the Premier League as soon as possible.
Denise DeBartolo York is the consortium’s chairman, while her son is Jed York – the CEO and president of the 49ers. Forbes values the family’s net worth at £4.05 billion ($5.1bn).
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