Leeds United takeover update: 49ers buy-out of Andrea Radrizzani could be backed by new money if relegated – Phil Hay
Phil Hay doesn’t expect the 49ers to abandon their involvement in Leeds United even if the club is relegated and admitted new backers could fund a deal in the Championship.
The American enterprise is due to take control of the Whites from Andrea Radrizzani in the summer, contingent on staying in the Premier League, but amid the departure of Javi Gracia and Victor Orta that is currently hanging in the balance.
But while the current deal, worth as much as £500million, won’t go ahead if Sam Allardyce can’t keep the club in the top flight, a cheaper 49ers deal could be on the cards in the second tier even if the venture capitalists currently backing the buy-out turn away.
Speaking on The Phil Hay Show with The Athletic on Friday (5 May, 36m 20s) Hay said: “I don’t sense a lack of commitment at all on the part of the 49ers I don’t think, and if they get relegated I don’t expect them to just depart in the summer.”
Michael Normanton pointed out the money they’ve put in won’t be returned to them if they leave and Hay added: “Highly unlikely yes, I think similar to Radrizzani.”
Dan Moylan then clarified the difference between 49ers Enterprises who front the investment and the actual backers who are providing the money as venture capital, suggesting that relegation might just mean they need to get the money from a new source.
Hay responded: “And consider the fact that in the Championship you don’t need as much money… so if you do have investors who walk away from it… it’s not necessarily a problem. But it doesn’t change the fact that you still have Radrizzani in the mix who has to decide what he’s doing.
“Because the 49ers have 44% in the club, if they were to decide they’ve had enough and they’re going they’re not going to just dump them and say somebody else can have them, they’re going to want paying for them.”
Discount
Radrizzani is the man set to miss out the most, as he is in line for a profit of well over £300million if he completes the long-agreed deal this summer.
He may therefore choose to remain in place until he can reach a position to put a similar deal in place, which isn’t especially encouraging for fans of the club.
It has been accepted for some time that a change of ownership was needed to push the club to the next level, in terms of the players and the stadium, but there is at least encouragement that 49ers Enterprises appear to be committed long-term.
If they suddenly looked to sell the Leeds United shares they already have there is no telling if the buyers would be an outfit looking to invest in the club in the same way, so it certainly looks like their continued attention is needed.
Big Sam completing a rescue job in the final four weeks would save a lot of difficulty for everyone connected to the club but that is by no means guaranteed.
Should Radrizzani decide to cut his losses after what has surely been a bruising couple of seasons the 49ers could be in line for a bargain purchase, which might turn out to the best outcome from a club perspective, but there remains numerous moving parts before an answer comes to light.
In other Leeds United news, Gary Neville admits the new manager could “shock the world” following his work in the first 48-hours with the club.