Leeds United takeover news as American company steps away from San Francisco 49ers deal
A West Coast American company has reportedly stepped away from the San Francisco 49ers bid to buy Leeds United.
The club announced on 9 June that a deal had been reached with the NFL franchise for a full takeover with Andrea Radrizzani leaving the club.
However, it’s now been revealed by Phil Hay that one of the venture capitalist firms part of their takeover backed away due to relegation.
He wrote in the Athletic [09 June], “Because of Leeds’ relegation last month, dropping from the Premier League to the Championship, the investment group courted by 49ers Enterprises has changed in the period leading up to Radrizzani’s sale.
“For instance, one prominent venture capitalist company based on America’s west coast stepped away from the bid. It was prepared to buy into a Premier League team but not one in the EFL. Nonetheless, 49ers Enterprises still had the cash it needed to finalise the deal.”
Takeover goes through
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It’s good to see that despite a company pulling out of the deal the takeover has finally gone through, much to the delight of the Leeds fans.
They had grown tired of the previous regime and ever since the decision was made to sack Marcelo Bielsa, tensions have been at an all-time high.
Most of the fanbase opposed that decision and time has proven them right as Leeds find themselves in the Championship again.
Where they should’ve backed the Argentine, they did not and the results unsurprisingly were poor and they felt he was the problem.
Then they backed Jesse Marsch and even gave him a club-record signing only to sack him a few days after the window shut.
Radrizzani, Victor Orta and Angus Kinnear together drove this club back to the Championship and two-thirds of that group is no longer at Elland Road now.