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Leeds get £23m cash injection following new share issue
Leeds United have received £23m for a fresh share issue following the San Francisco’s increased stake in the club.
The document from Companies House was posted by finance guru Kieran Maguire on his personal Twitter account on Friday afternoon.
5,042,754 shares were issued at a price of £4.56 and the document was dated February 19.
The total investment from the 49ers was said to be more than £50m, so we expect this is the first tranche of cash.
Leeds United receive £23 million from a fresh share issue following SF 49er increased stake #LUFC pic.twitter.com/3OVJL5vlMp
— PriceOfFootball (@KieranMaguire) February 19, 2021
Players and seats
We’re expecting the extra cash from the 49ers to be invested back into the club.
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Some will be used for new players and Leeds also want to look at expanding Elland Road into a 50,000 capacity stadium.
The new cash is great news and the fact that investment has come when the game is on its knees financially shows just how attractive Leeds are, and how keen the 49ers are to expand the partnership.
They’re a sporting behemoth and can really help grow Leeds into a global brand.
They also have great stadium expertise after building a new complex for the 49ers.
It’s all part of a 5-7 year plan for Radrizzani who wants to see Leeds back at the top table.
The amount of the 49ers investment has seen the club’s valuation go up dramatically since promotion but Radrizzani isn’t happy yet.
He’s got his eyes on a £1bn valuation for the club– and why not? Leeds are still a club in transition and the very definition of a sleeping giant.
In other Leeds United news, MOT View: Leeds fans get huge clue about first-team v Wolves after U23s reveal