The San Francisco 49ers have increased their stake in Leeds United, according to the New York Times.
The report claims, “The 49ers on Monday announced that they had increased their ownership stake in the Premier League club Leeds United to 37 percent from 15 percent, a move that further embeds American interests in the world’s richest soccer league.”
Paraag Marathe, who has been on the board of Leeds United since the initial investment, will now become vice-chairman of the club.
It hasn’t been disclosed how much they have paid for their additional 22% but the New York Times claims it will have been a “significant premium” on the initial 15% they bought.
Huge news for Leeds
This is huge news for Leeds and it delivers a big injection of funds for the club ahead of the summer transfer window.
It had been thought that new investment might be put on hold because of the COVID pandemic, but this proves just how investable Leeds are at the moment.
The 49ers bring a huge amount of business experience to the table, too, and having them as 37% partners is a serious boost for Leeds in the Premier League and worldwide.
It was reported that Radrizzani had talked to QSI about new investment as well, but the 49ers were always the favourites as they had their legs under the table already.
And with them on board, Radrizzani will stay on as chairman, along with the existing board.
The other area of expertise that the 49ers have is around stadiums, after having just built the Levi’s Stadium in the States.
Leeds are planning to redevelop Elland Road and the 49ers will be able to bring their experience to the party here, too.
It’s a big step in Radrizzani’s long-term plan for Leeds.
In other Leeds United news, Leeds handed triple fitness boost ahead of clash v Newcastle – confirmed