Leeds United: Thrilling Transformation as 49ers Enterprises Secure Ownership from Andrea Radrizzani

Leeds United has revealed that the sale of the club to American investment group 49ers Enterprises has been approved by the EFL. Last month, Andrea Radrizzani, who has been chairman and majority shareholder since 2017, agreed to sell his controlling stake in the club for a valuation of approximately £170m.

49ers Enterprises, the owner of NFL team the San Francisco 49ers, has been steadily increasing its ownership in Leeds since becoming a minority shareholder in 2018.

Paraag Marathe, who was previously the vice chairman, will now assume the role of chairman. Angus Kinnear, the chief executive, will continue to serve in his current position, while Rudy Cline-Thomas, the founder and managing partner of venture capital firm MASTRY, will join the board as a co-owner and vice chairman.

"This is a crucial moment for Leeds United as we are already actively engaged in our efforts," Marathe expressed. "This transition serves as a necessary reset in order to pave a fresh path for the Club.

"We have successfully appointed a well-regarded First Team Manager who has a proven history of achievement, and we have full confidence that Leeds will present a strong squad capable of competing for promotion in the upcoming season. It is an honor to carry this torch, as we recognize our responsibility to ensure that this Club brings pride to our staff, players, supporters, and the Leeds and Yorkshire communities."

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Three-time major champion golfer Jordan Spieth and two-time winner of the PGA Championship, Justin Thomas, have acquired shares in 49ers Enterprises. In 2021, 49ers Enterprises raised its ownership to 44 percent in Leeds, with the possibility of acquiring the remaining 56 percent from Radrizzani before January 2024.

The Americans were eager to complete a complete takeover this summer, but that deal, which had estimated Leeds' value at about £400m, depended on the club staying in the Premier League.

Leeds' recent relegation led both sides to engage in intense negotiations again, resulting in an agreed valuation of nearly £170m.

The completion of the deal signals the conclusion of Radrizzani's six-year tenure as the owner of Leeds. In 2017, he successfully acquired full control from fellow Italian Massimo Cellino, a move that garnered widespread support initially. Additionally, Radrizzani repurchased the Elland Road stadium, which had been privately owned since 2004, and attracted new investment through the acquisition of a 10% stake by 49ers Enterprises in 2018.

Marcelo Bielsa's appointment proved to be a stroke of genius, leading Leeds to a triumphant return to the Premier League after a 16-year hiatus. As time went on, 49ers Enterprises gradually increased its stake, but Radrizzani's connection with the Leeds fanbase started to deteriorate following Bielsa's dismissal in February 2022.

Leeds narrowly avoided relegation in the 2021-22 season, thanks to their new manager Jesse Marsch succeeding Marcelo Bielsa. Club owner Radrizzani vowed that they wouldn't have to battle for survival again.

Despite these assurances, Leeds' performance didn't improve, and they experienced a downward trend. Marsch was sacked in February, and both his successor Javi Gracia and later Sam Allardyce, who took charge for the final four games, couldn't reverse the decline.

Radrizzani chose to stay in Italy to complete his acquisition of Sampdoria instead of being present at Elland Road when the team's relegation was confirmed with a defeat to Tottenham on the final day. In a personal statement shared on social media, he later acknowledged the board's errors and offered an apology for Leeds' relegation.

However, when it was revealed that he had used Elland Road as collateral while securing a £26 million bank loan for purchasing Sampdoria, one of his own companies rather than Leeds, his reputation was further marred.