Chairman of Leeds United Andrea Radrizzani has agreed to sell his stake in the club to co-owners 49ers Enterprises for £170 million. The San Francisco 49ers' investment arm purchased a 15% stake in Leeds in 2018 and increased it to 44% in 2021. Radrizzani bought Leeds entirely for £45 million in 2017, although his stake has now plummeted to 56%.
Leeds United was relegated from the Premier League on the final day of the season and are now preparing for the Championship. The previous agreement, which was contingent on their survival in the top division, was worth over £400 million, but talks resumed following their relegation to the second tier.
The 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."