Leeds United owner Radrizzani confirms plans to sell Premier League club
Leeds United owner Andrea Radrizzani has confirmed that he intends to sell the Premier League football club in the near future.
US investment group 49ers Enterprises has been tipped to make it minority shareholding a majority one at the end of the current season.
“Perhaps Leeds can grow further, but in the future they will need more resources to be able to reach higher levels and compete with the best clubs in the Premier League,” Radrizzani said.
“As a result I believe that, due to the history of the club and the respect I have for the fans, it is right to let those who can invest more than me go forward, and bring them to the glory of the past. There is also a design aspect: this is my sixth year, change is healthy.”
Sports media mogul Radrizzani bought Leeds in 2017 and helped them to return to the Premier League three years later.
He welcomed 49ers Enterprises, an offshoot of NFL franchise the San Francisco 49ers, as minority partners in 2018.
The US group is reported to have an option to buy out Radrizzani in January 2024 and in November the Times said it had secured funding to take full control as early as summer 2023.
If it did, Leeds would join the eight other Premier League clubs under American control: Arsenal, Aston Villa, Bournemouth, Chelsea, Crystal Palace, Fulham, Liverpool, Manchester United.
Radrizzani added that he and 49ers Enterprises could invest in another club, having previously tried without success in his native Italy.
“We are considering investment opportunities in some Italian teams with the 49ers and other important partners,” he told Corriere della Sera.
“As partners in Leeds with the 49ers we have reached the end of the cycle and have shown that we know how to create value. Now a new phase is opening with new targets, accompanied by the interest of family businesses and private equity who want to invest with us.”
Leeds currently sit 15th in the Premier League, two points above the relegation zone.