Leeds United announce official agreement for 49ers Enterprises to take over the club
The club, now in the Championship, have been sold to the American consortium which currently owns the NFL franchise San Francisco 49ers.
English football club, Leeds United, have announced an agreement for the takeover of 49ers Enterprises, the American consortium which currently owns the NFL franchise San Francisco 49ers. The club recently suffered relegation from the Premier League after a thoroughly disappointing season that started with Jesse Marsch as head coach and ended with Sam Allardyce at the helm.
The club, under the 6-year-long stewardship of Italian media rights mogul, Andrea Radrizzani, had opted for US talent in their bid to not only stay in the league but progress up the table, with the owner saying relegation was “impossible” before a ball was kicked in the summer of 2022.
However, football is not played by pushing soundbites through microphones (tell that to Marsch) and as such, the club, previously thought to be worth over half a billion dollars but now valued at around $213m, quickly saw themselves hanging perilously over the cliff edge like Wile E. Coyote after a another failed attempt at putting together an ACME slingshot.
NBA star invests in Leeds
49ers Enterprises is an investment vehicle that has held shares at Elland Road since May 2018, with their stake gradually increasing over time to 44 per cent in recent years, and the final steps to taking control of the club settled on 9 June. The consortium reportedly has over 60 investors, one of which is NBA star Larry Nance Jr, who played for the Cleveland Cavaliers and the LA Lakers.
I’m ready for the ups and downs (hopefully more ups) that come with it... I also think you’ll find I’m a bit more knowledgeable and appreciative of football than what you’ve come across in recent years from US fans. And yes. I call it football”, Nance tweeted to supporters.
A short statement from the club said: 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.
Leeds United, despite the movement at board level, remain without a manager and sporting director, and many of their players look to be on the way out. The second division season begins in early August.