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WORLD FOOTBALL

Leeds United Announce Sale of Club to 49ers Enterprises After Relegation From EPL

Erin WalshJune 9, 2023

Leeds United's Brazilian-born Spanish striker Rodrigo reacts during the English Premier League football match between Leeds United and Tottenham Hotspur at Elland Road in Leeds, northern England on May 28, 2023. (Photo by Oli SCARFF / AFP) / RESTRICTED TO EDITORIAL USE. No use with unauthorized audio, video, data, fixture lists, club/league logos or 'live' services. Online in-match use limited to 120 images. An additional 40 images may be used in extra time. No video emulation. Social media in-match use limited to 120 images. An additional 40 images may be used in extra time. No use in betting publications, games or single club/league/player publications. / (Photo by OLI SCARFF/AFP via Getty Images)
OLI SCARFF/AFP via Getty Images

New owners are coming to Elland Road.

Leeds United announced on Friday an agreement between Aser Ventures and 49ers Enterprises for the sale of the club following its relegation from the Premier League last month.

New Orleans Pelicans forward Larry Nance Jr. and Indiana Pacers guard T.J. McConnell are also among the minority investors in the club, per NBA insider Marc Stein.

Marc Stein @TheSteinLine

Pelicans forward Larry Nance Jr. and Pacers guard T.J. McConnell, league sources say, are among the minority investors in the group that has purchased historic Leeds United Football Club (<a href="https://twitter.com/LUFC?ref_src=twsrc%5Etfw">@LUFC</a>) in England. <br><br>More NBA from me: <a href="https://t.co/LGN9cVpeGP">https://t.co/LGN9cVpeGP</a> <a href="https://t.co/dhmxfIsiLU">https://t.co/dhmxfIsiLU</a>

The deal will end Andrea Radrizzani's reign over Leeds United. The Italian businessman had held a 56 percent stake in the club.

Radrizzani had been the majority shareholder of Leeds since 2017, and he was facing immense pressure to sell the club after its three-year stint in the Premier League came to an end with a 19th-place finish in May.

"Both parties continue to work through the details, and further updates will be provided soon," Leeds United said in a statement. "All of our focus remains on a quick return to the Premier League.

"Thank you for your continued support. Marching on together."

49ers Enterprises, which owns the NFL's San Francisco 49ers, had already owned 44 percent of Leeds United after first acquiring a 15 percent stake in the club in 2018.

Leeds United Announce Sale of Club to 49ers Enterprises After Relegation From EPL
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Leeds' valuation dropped drastically following its relegation from the Premier League. According to The Athletic's Phil Hay, 49ers Enterprises valued the club at £170 million. Had it remained in England's top flight, the club would have been worth closer to £400 million, per Hay.

In addition to an ownership change, Leeds is looking for a new head coach and new director of football this summer.

49ers Enterprises is only the latest American ownership group to have control of a Premier League club.

Todd Boehly, who co-owns Major League Baseball's Los Angeles Dodgers, purchased Chelsea in 2022. Stan Kroenke, who also owns the NFL's Los Angeles Rams, is the owner of Arsenal.

There are also several other American ownership groups in the Premier League, including Tom Werner and John Henry (Liverpool), the Glazer family (Manchester United), Albert Smith (West Ham United), Shahid Khan (Fulham), Wesley Edens (Aston Villa) and John Textor (Crystal Palace).

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