Premier League US group 49ers Enterprises buys relegated player Leeds United | ECONOMY

The American group 49ers Enterprises has reached a agreement with the owner of Leeds United, Andrea Radrizzani, for the purchase of his shareholding in the English club.

Leeds announced the deal on Friday, which is awaiting approval from the Premier League, which will have to assess whether the new owners are suitable to enter the league.

This process could last several weeks, since the Premier renewed this regulation to avoid the entry into the competition of insolvent owners or whose funds come from irregular businesses.

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“Leeds can confirm that an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club. Both parties will continue to work out the details with more details coming soon.”, Leeds said in a statement.

49ers Enterprises is the investment arm of the NFL franchise San Francisco 49ers and its president is Paraag Marathe, who has been vice president of Leeds since 2021.

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Radrizzani took over the club in 2017 and owned 57% of Leeds, but he has decided to part with his shareholding package after the disastrous season that the ‘Whites’ have completed, with three coaches fired, along with the Spanish Víctor Orta, sports director , and relegation to the Championship three seasons after rising, with the Argentine Marcelo Bielsa at the helm.

The club’s valuation plummeted with the relegation and this purchase will allow the American group to invest adequately to ensure the future of the club, in addition to unlocking the sports field, in which planning for next season is stopped due to the Lack of a coach and a sports director.

Source: EFE

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