Leeds United Takeover Update: EFL has approved the full sale of the club to 49ers group
Leeds United has announced that the English Football League (EFL) has given its approval for the sale of the club to 49ers Enterprises. The 49ers group, which is the investment arm of the NFL franchise San Francisco 49ers, will now become the sole owner of the second-tier English club.
Former owner Andrea Radrizzani had agreed to sell his stake to the 49ers group in June, as they have been a shareholder in Leeds since their initial investment in May 2018.
Leeds announced that Paraag Marathe, who previously served as vice chairman, will assume the role of chairman, replacing Radrizzani.
“This transition is a necessary reset to chart a new course for the club,” Marathe said in a statement.
“We have already appointed a highly respected First Team Manager with a track record of success, and we are confident Leeds will field a competitive squad to contend for promotion next season.”
“We have a responsibility to ensure this club makes our staff, players, supporters and the Leeds and Yorkshire communities proud.”
Leeds recently hired Daniel Farke, the former manager of Norwich City, as their new coach. Farke signed a four-year contract to take over from Sam Allardyce, who left the club after their relegation from the Premier League.
Farke, a German manager, successfully guided Norwich to the Premier League in his second season, but they were subsequently relegated in the 2019-20 season. However, they bounced back by winning the Championship and earning promotion back to the top flight in the 2020-21 season.
“It has been an honour to guide Leeds United over the last six years and to spend so much time with the best fanbase in the world,” Radrizzani said.
“49ers Enterprises have been fantastic partners for years and I’m confident they will take Leeds to the next level.”
The statement did not mention if the Italian, who is also the chairman and creator of sports broadcasting company Eleven Sports, would still have a connection to the club.
READ ALSO: NBA star Russell Westbrook joins 49ers group in Leeds takeover
