Leeds United Under New Ownership: 49ers Enterprises Takes Control
Leeds United, the English football club, has undergone a change in ownership as the English Football League (EFL) has approved the sale of the club to 49ers Enterprises. This marks the end of Andrea Radrizzani’s tenure as the majority shareholder since 2017. The deal between the two parties was publicly announced in June, allowing 49ers Enterprises to begin the process of officially taking over the club.
Paraag Marathe, previously the vice chairman and board member, will now assume the role of club chairman. Rudy Cline-Thomas, a member of the investment group, will join the board as co-owner and vice-chair, while Angus Kinnear will continue as CEO. Marathe expressed his excitement about this new chapter for Leeds United, stating that they have already appointed a highly-respected first team manager and are confident in fielding a competitive squad for the upcoming season.
49ers Enterprises, the investment arm of NFL franchise San Francisco 49ers, leads the consortium that has taken charge of Leeds United. The consortium consists of around 10 major investors, with several smaller parties also involved in a minor capacity.
On the playing side, Daniel Farke was recently appointed as the club’s new manager, replacing Sam Allardyce who left at the end of the 2022-23 season. This managerial change comes after director of football Victor Orta’s departure in early May. Gretar Steinsson, previously with Tottenham Hotspur, is expected to fill a senior recruitment role at Elland Road.
Leeds United had a disappointing season, finishing 19th in the Premier League and subsequently being relegated to the Championship. Despite efforts from Jesse March, Javi Gracia, and Sam Allardyce, none were able to bring success to the squad. Radrizzani initially brought in 49ers Enterprises as a 10% shareholder in 2018, and their stake gradually increased to 44% by the end of 2021.
The US group had secured an option to buy Leeds in full in January 2024, with a valuation of approximately £500 million ($623 million). However, following relegation from the Premier League, negotiations for a lower price led to a fresh agreement with Radrizzani. The final buy-out values Leeds United at around £170 million.
This change in ownership brings new hope and opportunities for Leeds United. With the backing of 49ers Enterprises and the consortium of investors, the club aims to rebuild and regain their position in the top flight of English football. The appointment of Daniel Farke as manager signals their determination to create a competitive squad capable of contending for promotion next season.
Leeds United has a rich history and a passionate fan base. The new ownership understands the responsibility they have towards the staff, players, supporters, as well as the Leeds and Yorkshire communities. They aim to make everyone proud and bring success back to the club.
As Leeds United embarks on this new journey under 49ers Enterprises, fans eagerly await the upcoming season to see how the team will perform under new leadership. The investment and expertise brought by the consortium provide a strong foundation for the club’s future. With the right strategy and support, Leeds United has the potential to once again become a force to be reckoned with in English football.
In conclusion, Leeds United’s change in ownership marks a significant moment for the club. With 49ers Enterprises taking full control, new opportunities arise for the team to rebuild and compete at the highest level. The appointment of Daniel Farke as manager and the support of the consortium of investors demonstrate their commitment to success. Leeds United fans can look forward to an exciting future as the club aims to make a triumphant return to the Premier League.