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Leeds United takeover news as 49ers ready to part ways with £95million at Elland Road
The 49ers Enterprises are ready to part ways with the £95million needed to buy out Andrea Radrizzani’s remaining shares at Leeds United, according to Phil Hay.
The Daily Mail previously reported that the California-based group, who already owns a 44% stake in the club, could complete the takeover from Radrizzani by the end of this week.
After the club’s relegation from the Premier League, the 49ers Enterprises have valued the club at a total price of £170million.
In his latest piece for The Athletic, Hay wrote: “No parachute payments can soften the financial fall that is coming in 2023-24 but it is the potential to climb back up the mountain that clearly offers an enduring appeal as 49ers Enterprises prepares to part with the £95million needed to buy Radrizzani’s remaining shares and Elland Road.”
Clock ticking
While Radrizzani and the 49ers continue their takeover talks, the club’s need for a new sporting director and manager at Elland Road gets ever more pressing.
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The club are currently in limbo in their question of a new boss, with the club unlikely to make any swift changes before the new ownership is confirmed.
However, this wait could be allowing Leicester City to beat the Whites to the punch, with the Daily Mail reporting that they were eyeing up both Steven Gerrard and Scott Parker for their vacant position at the King Power Stadium.
Hopefully, the 49ers can complete the takeover this week and allow the club to prepare for the upcoming Championship season.
A major squad overhaul is set to be brought into motion this summer, but Leeds don’t want to leave themselves too much to do in the latter stages of the transfer window if this keeps rumbling on.
This latest update is promising and suggests the takeover should be complete in the near future.
In other Leeds United news, Phil Hay claims that a Whites senior player is now set to leave the club at a discounted fee post relegation and will not be signing a new contract.