Leeds United owner Andrea Radrizzani has reportedly agreed to terms for the full sale of the club to the San Francisco 49ers investment fund.
Radrizzani became co-owner at Leeds at the beginning of 2017 when he invested in 50 per cent of the club’s share capital.
However, the Italian’s reign at the club looks set to come to an end as the Yorkshire outfit prepare for their return to the Championship having finished 19th in the Premier League in the 2022/23 season.
The Daily Mail reports that amid Radrizzani’s agreement to sell to the San Francisco 49ers investment fund, details of the deal were passed on to the EFL on Tuesday afternoon.
Having already owned 44 per cent of the club, 49ers Enterprises’ complete takeover values Leeds at £170million.
The deal also includes the ownership of Elland Road, Leeds’ home ground that Radrizzani had reportedly offered as security in his attempts to buy Sampdoria.
It is said that over 60 investors make up 49ers Enterprises, with current Leeds board members Paraag Marathe and Peter Lowry involved.
A valuation of £420million was agreed by Radrizzani but following their relegation, the 49ers’ valuation decreased by £200million.
Following the Premier League’s approval of the deal, the EFL will now assess the 49ers’ investors under their Owners and Directors test.
Leeds will be looking to bounce straight back to the Premier League under new owners following a disappointing campaign.
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They finished 19th in the English top flight and five points from safety with just seven wins to their name.
Jesse Marsch, Michael Skubala, Javi Gracia and Sam Allardyce all took charge of the side at some point during the season.
Leeds are now searching for their next permanent appointment following Allardyce’s departure last week.