Phil Hay has insisted that the 49ers Enterprises are oversubscribed with investors as they close in on their full takeover of Leeds United in the next year.
Paraag Marathe is the leader and heavily known to fans at Elland Road, with others such as Peter Lowy, Chad Hurley and Nick Swinmurn also involved in the group.
Hay has shared that there are even more names involved and contributing to the takeover though, with one coming from the US political scene.
Writing in his latest piece for The Athletic, Hay shared what he knows about the different parties coming together under the 49ers Enterprises to get this takeover done.
“The remainder of the funding has been pulled together via different parties, most of them also based in the States,” he wrote.
“Though the venture-capital fund is an extension of the 49ers and controlled by the York family, who run the NFL team, 49ers Enterprises is not the NFL team itself. It is more akin to a consortium in which investors are coming together to finance the complete purchase of Leeds.
“Others to have openly declared their involvement include Peter Lowy, the Australian businessman who is co-CEO of the Westfield chain of shopping malls, YouTube co-founder Chad Hurley and English-born Zappos.com retail entrepreneur Nick Swinmurn.
“Expressions of interest in contributing to the takeover are said to have been numerous, to the point of 49ers Enterprises being oversubscribed. One of them has come from the US political scene.
“At this stage, 49ers Enterprises has the necessary cash in place.”
Keep them coming.
As long as they are all on the same page, the more investors that are involved, the more financial power that Leeds are likely going to have moving forward.
It looks as though the full takeover will happen way ahead of the January 2024 deadline, with the summer already mooted as a realistic time to pass the baton.
Andrea Radrizzani has done all that he can, and it is clear that we need more investment to reach that next level and start pushing towards Europe rather than fighting relegation every year.
The 49ers Enterprises will have a plan in place, they have been at Elland Road for long enough now and have been pumping cash in already, so success is certainly needed.
With this consortium-style group coming in, Leeds could quickly become a superpower with bigger transfer spending and the redevelopment of Elland Road.
The early signs are looking amazing, let’s hope they actually transform into reality.
In other Leeds United news, the Whites are now seeking their third signing of the month with a European contract rebel in their sights.