Popular English club, Leeds United F.C. has been sold to the San Francisco 49ers investment fund.
Though the San Francisco 49ers investment fund had already owned 44 per cent of the Leeds club, having first acquired a 15 per cent stake in 2018, the year after Radrizzani paid fellow Italian Massimo Cellino £44m for the entire club. Leeds owner Andrea Radrizzani has agreed to the terms of a complete sale of the club.
Details of the deal have neen passed on to the EFL this afternoon for ratification, Daily Mail Sport reported.
The 100 per cent takeover by 49ers Enterprises in a deal which values Leeds at around £170million includes the ownership of Elland Road, despite the fact Radrizzani previously offered the ground as security in talks to buy Italian club Sampdoria.
49er Enterprises comprise over 60 investors, the most well-known of whom are chairman Paraag Marathe and Peter Lowry, an Australian billionaire whose family founded the Westfield shopping mall empire.
Harathe and Lowry are both already on the Leeds Board, but are expected to make additional appointments as they plan to remain based in the United States.
The day-to-day running of the club is expected to remain in the hands of chief executive Angus Kinnear, who has developed good relationships with both men after being recruited by Radrizzani from West Ham six years ago.