Exclusive: 49ers investment at Leeds United blocked over financial agreement Andrea Radrizzani
49ers Enterprises have been unable to pump any cash into Leeds United this summer due to a previous agreement with Andrea Radrizzani, MOT Leeds News has been told.
The Athletic journalist David Ornstein reported on Tuesday (30 August) that Leeds have no money left in their budget to complete any last-ditch deal before the transfer deadline at 11pm on Thursday (1 September).
Leeds’ net spend is close to zero, meaning that all signings made this summer have been funded by the big-money sales of Raphinha and Kalvin Phillips.
And MOT Leeds News has been told by a source at Elland Road that while the 49ers have the means to add to Leeds’ transfer budget, a clause in their agreement with majority shareholder Radrizzani says they can only match what he invests in the side.
Radrizzani has failed to add to Leeds’ transfer budget this summer with a source telling MOT Leeds News: “The 49ers have got to the level of investment where the agreement is they match what Radrizzani puts in but Radrizzani hasn’t got anything to put in.
“That’s the deal they’ve got going forward.”
49ers Enterprises raised their stake at Leeds to 44 per cent in November 2021 and, according to The Athletic on 6 December of last year, the investment arm of the San Francisco 49ers have the option to complete a full takeover by January 2024.
It was reported by Ornstein and Phil Hay that the 49ers have a deal in place to buy Leeds for a total price in excess of £400million.
Radrizzani told The Athletic earlier in August that Leeds had an agreement with Club Brugge to sign Charles De Ketelaere for £33.5million (€40m) before the Belgian opted for a move to AC Milan.
Ex-Yorkshire Evening Post journalist Hay has since reported on The Athletic website that while Leeds did agree that club-record fee, they would only be able to pay it via investment from either Radrizzani or the 49ers or from further player sales.
In other Leeds United news, Marsch would pay £25million to get this last-ditch forward signing over the line.