- Radrizzani agrees to sell
- 49ers Enterprises acquires club for £170m
- Upped stake from 44 per cent
WHAT HAPPENED? Italian media executive Andrea Radrizzani had held a majority stake in the West Yorkshire club for six years after initially buying them for £45 million. As announced by the club on Friday, Radrizzani has agreed to sell Leeds for £170 million ($214m) to 49ers Enterprises, an amount which would have reportedly risen to as high as £400m ($503m) had Sam Allardyce's side survived relegation.
THE BIGGER PICTURE: As a result of the decision, 49ers Enterprises will up their holding in the club from 44 per cent to 100 per cent control. The U.S.-based firm is an investment arm of NFL franchise the San Francisco 49ers, comprised of roughly 60 different investors. Each will be subject to the EFL's necessary examinations before the deal can officially go through, although no problems are expected and the decision is considered a formality.
AND WHAT'S MORE: With Radrizzani gone - who now forms part of a group completing the purchase of Italian side Sampdoria - Leeds can begin reconstructive work on Elland Road. The stadium is in need of updating and expanding, which had been a specific target set by 49ers Enterprises president Paraag Marathe. The new board's immediate task will be to find a new manager to take them back to the top-flight, after Allardyce was relieved from his post last week.
IN TWO PHOTOS:Getty ImagesGetty
WHAT NEXT FOR LEEDS? It looks set to be a summer of change in West Yorkshire. With Radrizzani and Allardyce gone, there looks to be a host of names following them out the exit doors, particularly Leeds' American contingent.