Leeds United takeover agreed as Andrea Radrizzani sells to 49ers chiefs

Andrea Radrizzani has reached an agreement to sell Leeds United to 49ers Enterprises and bring his six-year reign at Elland Road to an end.

The Daily Telegraph revealed earlier this week there was confidence of new owners being in place imminently, with a statement released late on Friday evening to confirm the Italian businessman had put in place terms to sell the 56 per cent of the club that the American group did not already own.

“Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club,” read a statement from 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.”

Leeds’ new owners are the investment arm of NFL team San Francisco 49ers, who had 44 per cent of the club previously. There was an agreement in place for a full takeover if Leeds remained in the Premier League but relegation led to a negotiation over a lower price.

A breakthrough was made at the start of the week, with the club thought to be valued in total at £170 million with their new Championship status. Sam Allardyce was brought in for the last four games of the season in a desperate attempt to stay in the top flight but they were relegated on the final day of the campaign.

Radrizzani was not in the stands when Leeds’s relegation was confirmed. He has been working on a takeover of Sampdoria in his homeland, with the famous old club relegated from Serie A. The Italian then apologised to Leeds fans for the season, without committing on who would control the club in the future.

“I am sincerely sorry for how this season has unfolded,” Radrizzani said. “We have made significant investments to try [to] keep Leeds United in the Premier League, but in working hard to improve the club, we have also obviously made some mistakes.”