Completed Deal: A $66.7 million contract has been agreed between San Francisco 49ers and the ……

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As a result the American investment group, owner of NFL franchise the San Francisco 49ers and a minority shareholder in Leeds since 2018, will take full ownership.

‘Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club,’ said a statement.

‘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.’

49ers Enterprises increased its stake in Leeds to 44 per cent in 2021 with the option of buying Radrizzani’s remaining 56 per cent before January 2024.

The Americans had been keen to push through a full takeover this summer, but that agreement, which had valued Leeds at around UK£400 million (US$503.2 million), was contingent on the club remaining in the Premier League.

Leeds’ relegation last month forced both parties back into intense negotiations and a valuation of close to UK£170 million (US$213.9 million) has been agreed.

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The deal marks the end of Radrizzani’s six-year ownership of Leeds. He completed a full takeover from fellow Italian Massimo Cellino in 2017 and initially proved hugely popular.

Radrizzani bought back Elland Road stadium, which had been in private ownership since 2004, and brought in fresh investment when 49ers Enterprises purchased its first ten per cent stake in 2018. The appointment of Marcelo Bielsa soon after proved a masterstroke as Leeds won promotion back to the Premier League for the first time in 16 years.

49ers Enterprises has steadily increased its stake, while Radrizzani’s relationship with the Leeds fanbase began to sour when Bielsa was sacked in February 2022. Leeds escaped relegation on the final day of the 2021/22 season under Bielsa’s successor Jesse Marsch and Radrizzani promised that the club would not be involved in another survival fight.

But results this past season failed to improve and after Marsch was sacked in February, his replacement Javi Gracia and then Sam Allardyce, appointed with four games remaining, failed to halt the slide.

When relegation was confirmed with a final-day defeat to Tottenham, Radrizzani was absent from Elland Road, opting instead to remain in Italy to finalise his takeover of Sampdoria. He later admitted Leeds’ board had made mistakes and apologised for the club’s relegation in a personal statement posted on social media.

But after it emerged he had offered to use Elland Road as collateral when securing a UK£26 million (US$32.71 million) bank loan to buy Sampdoria – one of his companies and not Leeds owned the stadium – his legacy was further tainted.

SportsPro says…

49ers Enterprises will finally have complete control over Leeds, having successfully negotiated a significantly lower sale price with Radrizzani than the initial deal proposed.

This marks the investment vehicle’s most high-profile acquisition to date, having previously put funding into technology and sustainability firms. Owned by the York family, 49ers Enterprises has numerous other individual backers, but is primarily the investment arm of the San Francisco-based National Football League (NFL) team. Paraag Maranthe, the president of the fund and the 49ers, will likely become the public face of the acquisition as Leeds chairman.

As well as improving Elland Road and the club’s infrastructure, enhancing Leeds’ commercial revenue even further will be a priority. Speaking on the SportsPro podcast last year, the 49ers’ chief marketing officer Alex Chang mentioned the possibility of joint sponsorship deals with global brands, capitalising on the prominence of both the NFL and English soccer. The 49ers have overseas marketing rights in the UK and have already held watch party events in Leeds designed to align the fanbases.