49ers set to takeover Leeds United as primary owner
Jun 9, 2023, 3:34 PM
(Photo by Jan Kruger/Getty Images)
While the San Francisco 49ers are currently in the offseason, that hasn’t stopped them from expanding their business overseas.
After months of negotiations, 49ers Enterprises is set to become the primary owner of English soccer club Leeds United. An agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club, with an official takeover taking place one the coming months.
Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club,” the statement from the club read Friday.
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.
Thank you for your continued support. Marching on together.
The 49ers have been rumored to purchase owner Andrea Radrizzani’s majority stake in the team, with the two sides announcing a deal Friday. The takeover will now work on becoming formal, likely taking a number of weeks. The sale will also need EFL approval to be finalized. Additionally, full ownership of Elland Road stadium, bought by Radrizzani in 2017, will pass to 49ers Enterprises as part of the buy-out.
BREAKING: Leeds United have confirmed an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club. pic.twitter.com/yf15Ue4Xvy
— Sky Sports News (@SkySportsNews) June 9, 2023
With the sale now heading towards an end, the 49ers can begin work on the football front as they implement plans for the club.
49ers president Paraag Marathe, who has also been vice-chairman of Leeds since 2021, is expected to take over as chairman, with existing chief executive Angus Kinnear remaining with the club.
Click here to read more on the purchase of Leeds United by the 49ers.