‘Great news’ – Leeds chief confirms club set for big new cash injection, details exciting plans
Leeds United are ready to take on fresh investment and it’s almost certain to come from the San Francisco 49ers, according to Angus Kinnear.
The Leeds chief said that the money – and the 49ers expertise – would be used to fund new player contracts and increase the capacity of Elland Road to 60,000 over the next 3-4 years.
The 49ers already own a tranche of Leeds, thought to be 10%, and have opened a new fund called ‘Leeds II’ that has made people believe fresh money is imminent.
Their last investment was made from a fund called ‘Leeds I’.
Talking on The Square Ball podcast, Kinnear talked of the 49ers and the expertise they bring on top of any money.
He said he “wouldn’t be surprised” if that’s where the new cash comes from and added that they want to invest new money and that owner Andrea Radrizzani wants them to be more involved.
He added, “From my perspective, it’s a fantastic partnership on which to found Leeds’ future success.”
What will Leeds do with the big new cash injection?
Kinnear talked of “two key areas”. He mentioned the money spent on transfers and said that new contracts and “continuing to fund things on the pitch is absolutely essential”.
“There are then capital and commercial projects they [the 49ers] will be able to help with,” Kinnear said.
“We think there is easily demand for 55,000 seats, probably 60,000 seats [at Elland Road]. To get to 60,000 seats requires development of both the west and the north stand.
“That will be a key pillar of the new Leeds United. If you want to be a top-six team, you look at the top six, all the stadiums are 50,000-to-60,000.
“The great news about Elland Road is that we have the space around it, we don’t have to move it.
“That’s one of the priorities and not so long ago the 49ers built Levi’s Stadium so they have fantastic expertise in that area.”
Kinnear went on to say that the redevelopment would likely take 3-4 years.
Zero to 2,000 to 60,000
There have been zero fans in Elland Road for the past nine months. Even typing that is incredible.
However, it looks like fans will be able to come back just after Christmas if, as expected, Leeds is put into Tier 2 in the next government review on Wednesday.
That would see 2,000 fans back into Elland Road for the home game against Burnley on December 27.
The journey from 2,000 to 60,000 is a long one but it will give Leeds fans real hope.
Just the idea of 60,000 fans inside Elland Road is making the hair on the back of our necks rise.
Kinnear’s interview all but confirms that the 49ers are set to take a bigger stake in the club very soon.
Fans might have been hoping that the imminent new investment would be spent on new players.
But new contracts for top players and a 60,000 capacity stadium is fantastic news and shows the long-term plan the owners have for the future of the club.
Leeds United is in very safe hands at the moment.
In other Leeds United news, ‘Oh my God’, ‘The dream’ – Many Leeds fans thrilled as Phil Hay relays major breaking news