The owners of San Francisco 49ers’ have announced a deal to acquire Leeds United FC for over £400 million within the next two years, according to The Athletic.
This new development gives the option for the National Football League (NFL) side’s enterprises to purchase 100% of Leeds United by January 2024, with full control over the club.
The Athletic explained that the team’s market value has ‘rocketed’ since Andrea Radrizzani bought the Premier League club four years ago. Leeds has been majority owned by the Italian businessmen but the fund is now set to secure a full buy-out deal.
Having full ownership of the club would include Elland Road stadium – which has had a plan put in place to increase capacity to 55,000.
Radrizzani sold 10% to the enterprises in 2018 which has since risen to 44%, the Athletic continued to report, with a recent increase of 7% from last month.
Furthermore, in January 2021, it was also demonstrated that the £400 million purchase during negotiations saw the enterprises’ stake rise to 37%, and The Athletic learnt that the deal may be as high as £475 million.
This saw Paraag Marathe, President of 49ers Enterprises, become Leeds’ new Vice President through the investment. His role was to become more involved in the decision-making process and day-to-day operations of the club.
Moreover, the cost of having 100% ownership of the club includes the money already paid for 49ers Enterprises’ existing stake, which means that £200 million is left to pay.
The site has also been told that ‘a buy-out is likely to come sooner’, and it is still an option that Radrizzani will retain a small share. He has also claimed that, in the next five years, he wants Leeds United to be worth around £1.1 billion.
The owner also explained that he would consider selling stakes in the club to reach the target. It is expected that he will hold a small stake once the deal is complete.