Elland Road not in Leeds United hands as value hits £25million – Phil Hay
The value of Elland Road stadium is said to stand at a significant £25million mark, but ownership of it is not legally in Leeds United hands, as reported by The Athletic.
It is a place of huge significance for the loyal Whites’ supporters, their place of worship and spiritual home but what should be a primary asset for Leeds is just another story in the turbulent recent history of the club.
As things stand, Elland Road is owned by Andrea Radrizzani with the 49ers Enterprises owning a minority stake, alongside him, in the entity that controls it. The bottom line is that like the club itself, the stadium is in private ownership.
Phil Hay outlined the damning reality in full detail, with the story spanning back almost 20 years.
“The consequences of that sale are still being felt and the revelation about Radrizzani earlier this week underlined a reality Leeds have faced for almost two decades: that private ownership of their ground, their home since their formation in 1919, gives them limited control over it,” he said.
“Though Radrizzani bought Elland Road back after his takeover in 2017 for around £20million, it was acquired by a company run by him rather than the club.
“At present, shares in the firm that owns Elland Road are split between him and fellow Leeds shareholder 49ers Enterprises — Radrizzani with a majority stake and 49ers Enterprises with the minority.
“Though it could be said the ground is back in Leeds’ hands again, legally it is not. Documents at Companies House value it at £25million.”
Security
Since the rollercoaster days of the early 2000s, it would appear from the outside that the club is in a much better position nowadays but certain themes continue.
With Leeds now relegated back to the Championship, it will be a significant challenge to bounce back immediately to the top flight which is an objective that needs to be planned and prepared as soon as possible.
Unfortunately, the ownership wrangle between Radrizzani and the 49ers is contributing significantly to the instability with no manager currently in place.
As outlined above, the story of the stadium ownership goes back two decades and running through it is also a pattern of turbulence and strife, much like the club itself.
On and off the pitch, security and stability are required but sorely lacking, with the immediate future far from certain.
The Leeds supporters need and deserve answers on the current state of the club and the direction in which it is heading.
In other Leeds United news, a 49ers takeover announcement may arrive at Leeds within days