Leeds State ownership mooted by Phil Hay as £1bn verdict shared
The Athletic’s Phil Hay has suggested Leeds United would need “State ownership” if they want to compete with the best clubs in England.
The 49ers are now in control at Elland Road after reaching an agreement with Andrea Radrizzani for the sale of the club.
However, Hay has suggested the 49ers investment isn’t a “forever” investment with there being plans to turn Leeds into a £1billion club.
“They can’t float around in this league,” said Hay (The Square Ball, 12m 43s, 15 June).
“The vision they have for Leeds as an investment project is never going to be realised as long as they’re outside the Premier League.
“That’s where the money is. That’s where they can turn Leeds from a club that has a value of £400million to a club that potentially has a value of more than £1billion. At that point, you move into a totally different stratosphere.
“I don’t think anyone would cast this as a forever project for the 49ers. Even if the blueprint goes to plan and Leeds reach the point where they want to get to and that valuation.
“Common sense tells you that if Leeds want to step up again then you start to look for richer owners.
“The richer owners seem to be coming from States as opposed to collections of investors.”
Long way off
It’s fair to say that scenario is a long way off, but the intent and signs from the 49ers are certainly positive.
They view Leeds as an investment. They want to add value to the club and sell when Leeds are back among the top six or seven clubs in the country.
Let’s not beat around the bush. Outside the top six clubs, Leeds are one, if not the biggest club in the country. Aston Villa are another good example. Both clubs have a global reach and a platform to make a dent at the top of English football.
However, the first goal has to be to achieve an immediate return to the top flight. The 49ers will know promotion will see the club’s value skyrocket back north of the £400million mark – the figure Radrizzani was eager to land if Leeds had secured their Premier League survival.
The new owners are yet to really make their mark, but with a new manager in the offing and plenty of exits on the cards, there’s a chance for the board to stamp their authority in the coming weeks.
In other Leeds United news, Newcastle United want to sign one Whites man to help unleash Bruno Guimaraes.