49ers Enterprises want Elland Road in Leeds United takeover after Andrea Radrizzani lease news
The 49ers Enterprises want Elland Road included in their takeover of Leeds United after news this week, according to The Athletic.
Andrea Radrizzani reportedly offered the stadium as collateral when he co-signed an agreement in principle for a £26million loan to help buy Sampdoria, although there is no evidence the proposal went through this way.
The Whites chairman currently owns Elland Road separately from the club, but if the 49ers were to take control of the stadium, it would eliminate the £1.7million lease which the Italian businessman currently demands.
The Athletic report states that it is not yet clear whether this £1.7million lease will stay in place now the club are playing Championship football next season.
The report said: “At one stage during the Bates era, ownership of Elland Road passed to a company in the British Virgin Islands, Teak Commercial Limited. When that emerged, questions were asked about who now controlled the ground, though it was always Adler and it was Adler who Radrizzani negotiated with to buy the stadium in 2017.
“Initially, and for as long as Leeds were in the Championship, Radrizzani halted lease payments of £1.7million and allowed the club to use it rent-free.
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“Rent payments restarted post-promotion in 2020, however, and the most recent accounts for Elland Road Limited, the company which owns Elland Road, indicate the firm expects to pull in £1.7million annually via the lease.
“It is not clear how or if that will change on the back of another relegation. Should 49ers Enterprises complete a takeover in the weeks ahead, it would like the stadium to be included.”
There are so many questions that are currently unanswered at Leeds United, and the one major one is the makeup of the ownership moving forward.
It looked almost impossible for Radrizzani to fall any lower in the estimations of the Whites’ fanbase, but his stunt with Elland Road has certainly dented his reputation even further.
Leeds simply can’t be owned by somebody who wasn’t at their final game of the season because he was in Italy buying another club and then used Elland Road as security for a £26million bank loan.
It simply isn’t right.
Every fan will now be praying that the 49ers can complete a swift takeover this summer and that the club can subsequently turn over a new leaf heading into next season.
The last few months has been an utter shambles for Leeds United, and Radrizzani has been at the heart of it all.
It is time for the Italian to listen to the fans and leave the club, otherwise, things could ugly at Elland Road next season.