Leeds United takeover: Official approval still weeks away despite announcement as 49ers face EFL scrutiny - Phil Hay
Official approval from the EFL of the Leeds United takeover is still “a number of weeks away” despite announcement of the sale from Andrea Radrizzani to 49ers Enterprises, according to Phil Hay.
The club officially confirmed the 100% takeover by the American company on Friday night (9 June), but while passing the Owners’ and Directors’ Test is considered a “formality” it won’t be confirmed for some time yet.
Louise Taylor in The Guardian suggests that it is “likely to take most of the summer for the EFL to grant its official blessing” due to the 60-strong size of the 49ers investment group, although Hay reports in The Athletic that it should only be the “11 or so main parties” who are scrutinised, not the minor members, and the process should be “fairly straightforward”.
Crucially according to Hay, the next steps in the Whites’ offseason can still progress while that process is carried out, as he writes in a separate report for The Athletic: “The formal completion of its takeover is likely to take a number of weeks while legalities are handled and the group seeks EFL approval of the deal.
“Various individuals involved in 49ers Enterprises’ investment group will be required to pass the EFL’s Owners’ and Directors’ Test before the purchase goes through.
“But confirmation that the US fund will acquire full control of Leeds from Radrizzani should free the club to start work on the football front and actively implement initial plans.”
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It would be very Leeds United for some sort of unforeseen hitch to crop up during the EFL’s process and throw yet another spanner in the works, but it appears that this long-awaited process is now done.
Radrizzani leaves the club with his reputation far lower than it was just two short years ago, and the next chapter at Elland Road opens under full American ownership.
It is a major positive that the new regime appears free to start making moves at manager, and subsequently on transfers in and out of the squad, as plenty of key work has been backed up since the end of the season a fortnight ago.
Angus Kinnear has been doing work behind the scenes to get moves ready to make once the sale was finally confirmed so supporters will be hoping that a managerial appointment is just a matter of days away now.
Once that key decision is finalised the overhaul of the squad can get moving, with the appointment of a new sporting director to replace Victor Orta likely a secondary priority.
The Whites should be in a financially strong position to mount a push for promotion, assuming they can shed players to the right places in good time, and pick up any new recruits they need for the second tier.
Virtually two whole weeks have been lost to the ownership saga, Kinnear’s work aside, but with the major question answered the summer can finally get under way.
In other Leeds United news, one first-team player wants a move to another league to find his form with talks opened over an Elland Road exit deal.