Leeds United takeover: 49ers to boost summer budget for promotion push – Phil Hay
The buyout of Leeds United by 49ers Enterprises is now “firmly on track” and is set to result in the budget being boosted at the club this summer, according to Phil Hay.
The Daily Mail finally reported agreement between the Americans and Andrea Radrizzani on Tuesday (6 June) for a sale of 100% of the club, valuing it at approximately £170million overall.
And while time has been lost by what Hay terms a “week of wrangling” on the deal since relegation was confirmed, there is now confidence that the money the new owners will make available before next season can facilitate a push to gain promotion at the first time of asking.
Writing in The Athletic on Wednesday morning (7 June) Hay said: “The likely completion of a takeover by 49ers Enterprises would, according to those with knowledge of its intentions for Leeds, result in an increased close-season budget as part of the US group’s plan to inject funds into the club and avoid more than 12 months outside the Premier League.
“Despite the tight turnaround before next season starts, there is optimism that a buyout can facilitate a concerted promotion push, and the buyout is firmly on track after a week of wrangling.”
Music to fans’ ears
It’s been far too long in coming but this sort of news is exactly what supporters want to hear having suffered relegation.
The 49ers’ plans for the club when it was hoped it could remain a Premier League outfit had sounded positive, but while buyers can always talk a good game before they are in position they have to back it up when the get in.
Logically, with the Americans having been 44% minority owners for some time, there shouldn’t be any surprise at the situation at Elland Road that could derail their planned push to get back into the Premier League.
Losing top flight money was a significant blow but the club is thought to be in a decent financial position to handle it, and while players will have to be sold either way it is reassuring that it sounds like funds will be there to put out a competitive team in the Championship.
Who it is that will manage the team in the second tier will be crucial as their say-so will have a big impact on who stays and goes from the top flight squad, and which targets could be brought in.
After over a week with only questions it seems that the Whites are about to start providing some of the answers at long last.
In other Leeds United news, the club are now in talks with a former league title-winner to take over as manager.