3 minute read

Leeds United's new owners are already "hard at work" plotting a "new course for the club".

The Andrea Radrizzani era at Elland Road, which ended with relegation to the Championship, is over.

Leeds have announced the EFL has approved the club's takeover by American investment group 49ers Enterprises.

Radrizzani agreed to sell his controlling stake last month and the deal, which valued the club at around £170million, has now been confirmed.

49ers Enterprises, which owns NFL franchise the San Francisco 49ers, has steadily increased its stake in Leeds since becoming a minority shareholder in 2018, while the deal includes full ownership of Elland Road.

Paraag Marathe, previously vice-chairman, will take over as chairman, chief executive Angus Kinnear will remain in his current position and Rudy Cline-Thomas, founder and managing partner of venture capital firm MASTRY, will join the board as co-owner and vice-chairman.

Former Norwich boss Daniel Farke was appointed manager on a four-year deal earlier this month ahead of the coming season's bid to secure an immediate return to the Premier League following relegation in May.

Marathe said in a Leeds statement: "This is an important moment for Leeds United and we are already hard at work.

"This transition is a necessary reset to chart a new course for the club. We have already appointed a highly-respected first-team manager with a track record of success, and we are confident Leeds will field a competitive squad to contend for promotion next season.

"It's a privilege to carry this torch as I know we have a responsibility to ensure this club makes our staff, players, supporters and the Leeds and Yorkshire communities proud."

Cline-Thomas said: "With my family hailing from Leeds, it's an honour to be able to uplift this incredible community.

"This is more than just an opportunity, it's a personal mission. The chance to reinvigorate the cherished Leeds culture, to create a platform that attracts the world's finest players, and build a truly global brand that celebrates diversity, is a prospect that thrills me."

The deal marks the end of a six-year ownership of Leeds for Radrizzani, who said: "It has been an honour to guide Leeds United…and to spend so much time with the best fan base in the world.

"49ers Enterprises have been fantastic partners for years and I'm confident they will take Leeds to the next level."