Leeds United takeover talks at risk as Andrea Radrizzani strains 49ers relationship at crucial point – Phil Hay
Andrea Radrizzani may have put Leeds United takeover negotiations at risk as he has “likely” strained relations with 49ers Enterprises with his actions in buying Sampdoria, according to The Athletic.
The Italian reported offered Elland Road as security in an attempt to get a £26million loan to buy the side relegated from Serie A, and did not inform his Whites co-owners amid talks to sell them the club.
Talks have been ongoing between the two sides over a proposed sale of Radrizzani’s 56% after relegation from the Premier League on Sunday (28 May) scrapped their previous agreement, but the latest development may have damaged the prospects of a badly-needed resolution.
Phil Hay and Adam Crafton report in The Athletic: “It is understood the 49ers were only informed about Radrizzani’s proposal on Wednesday evening after The Athletic’s initial approach.
“It remains unclear whether the agreement in principle has progressed further, or if Radrizzani ultimately opted for a different approach to secure funding, but it is remarkable in itself that the Leeds chairman was prepared to put his name to securing the stadium of his current club against a loan to buy a different club.
“It is also likely to strain relations between Radrizzani and the 49ers just at the point supporters may be hoping they will thrash out a final agreement for a takeover.”
Nightmare development
Few Whites fans would have been comfortable with the situation as it was, with Leeds United hanging in limbo between the chairman and the 49ers through the week after relegation, much as they had all year.
That the two sides saw the threat of dropping back into the Championship grow greater and greater until it became a reality, yet failed to reach an agreement for this eventuality, is highly frustrating for supporters who have been treated to a chaotic season on the pitch and behind the scenes.
The Sampdoria factor figured to be a slightly disrespectful irritation, coming at the point the long-awaited return to the Premier League ended, but only as long as Radrizzani kept his eye on the ball at Elland Road.
But the latest indications are that he has instead been keeping his eye very much on another ball and apparently attempting to use Elland Road to help him control it.
It is the sort of development that wouldn’t seem out of place for a real rogue owner, with whom it is difficult to see how they ever passed a fit and proper persons test, and some Whites fans might feel they know a thing or two about them, but Radrizzani, for all his faults, never seemed that sort of character.
The end of his reign in charge of Leeds United was heading for an inglorious end, relegated and with the Marcelo Bielsa operation that made this era so popular now seeming like a distant memory, but it looks to have got even worse.
How the 49ers react to apparently being blindsided by this news only after The Athletic contacted the club is going to be crucial, and if Radrizzani has put the buy-out under threat his popularity will plummet even further.
If a sale price for a depreciated-value club was the sticking point before, it is hard to see the Americans being willing to be any more generous now to the man who isn’t apparently keeping them in the loop on shock decisions like the Elland Road idea.
In other Leeds United news, the 49ers have been working with Angus Kinnear to close in on a much-needed appointment.