49ers to be hit by hefty Leeds United costs as Elland Road news emerges from boardroom
The 49ers Enterprises could be hit by a hefty bill when their inevitable takeover of Leeds United is completed after plans for Elland Road’s redevelopment were brought to fruition on Friday (31 March).
The minutes of Angus Kinnear’s meeting with the Supporter Advisory Board (SAB) were released on Friday, with a potential 2026 timeline drafted for the redevelopments of Elland Road.
As well as a timeline for the desired changes being shared – including a year for funding, a year for the West Upper build and a year for the West Lower development – the alarming 50% rise in construction costs was brought to the fore.
Such costs have hinted that 2023 is potentially the worst possible time for a major project of this nature to be taking place.
A segment of the minutes from the SAB meeting said: “AK [Angus Kinnear] did say though that the club has drawings and commissions for plans. The construction costs have also increased 50%, which has meant that this is one of the worst times to commence a major construction project.”
If the 49ers Enterprises thought that their full takeover of Leeds United couldn’t get any more complicated, or expensive for that matter, they were clearly mistaken.
Already the club’s uncertain Premier League future has left the details of the majority takeover in limbo, while the huge financial costs of a stadium redevelopment have added another snag to proceedings.
Everton owner Farhad Moshiri has shown how difficult it is to pay for construction costs, albeit with the Bramley Moore-Dock stadium being a new build, and the troubles of funding such a project as Leeds are embarking on are hard to ignore.
The 49ers won’t be hit a payment anywhere near that of Moshiri’s, but it will certainly be a little frustrating that this has been timed in such a manner.
In the long run, the redevelopment of Elland Road will reap its rewards, but at this moment, the 49ers might just be cursing their luck.
In other Leeds United news, the club are ready to offer a new contract to one first-team star whose deal is up in 2024.
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