Leeds United confirm minority shareholders 49ers Enterprises will take full control of the club

American group 49ers Enterprises will be the new owners of Leeds United after the club announced that the terms of a full takeover had been agreed.

Mail Sport revealed on Tuesday that current chairman Andrea Radrizzani had struck a deal to sell his 56 per cent majority stake to the investment arm of the San Francisco 49ers, who already owned a 44 per cent share.

And a club statement read: ‘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.’

The deal agreed values Leeds at £170million and the individuals involved in the 49ers investment group must now pass the EFL’s Owners’ and Directors’ Test before the buy-out is rubber-stamped.

The 100% takeover deal values Leeds at around £170m, including the ownership of Elland Road

But the announcement on Friday night means that the Americans can start making plans for the Championship season, as they look to appoint a new manager and new director of football.

The 49ers president Paraag Marathe is set to take over as chairman, with existing chief executive Angus Kinnear staying in his role.

Leeds were relegated from the Premier League at the end of last month, and looking to regroup as a Championship side.

The American shareholders have been minority owners since 2018, but the full takeover brings an end to Radrizzani’s ownership of Leeds United. He has been a co-owner since January 2017, and a full owner since May of that year.

It ends Andrea Radrizzani’s time in charge, since he became full owner of Leeds in May 2017

Earlier this week, it was reported that the details of the sale had been passed on to the EFL for ratification, but this is the first time that Leeds have made an official statement on the matter. 

The EFL were tasked with ensuring that all the 49ers 60 investors comply with their Owners and Directors test. 

49ers Enterprises already own 44% of Leeds United, having first acquired a 15% stake back in 2018.  

Radrizzani’s Aser Company consortium recently completed a successful takeover of Italian side Sampdoria.