49ers Enterprises agree deal for Leeds takeover / Photo: © AFP
-
School roof collapse kills teacher, 27 children in NW Pakistan
-
Pope has 'good night' in hospital: Vatican
-
Haze turns Indonesia skies orange, shuts schools in East Timor
-
China's economy seen missing target as global shocks bite: AFP poll
-
California puts first US billionaire tax to the vote
-
Costa Rica opens jail inspired by El Salvador mega-prison
-
School headscarf ban meets resistance in Austria
-
Same-sex couple takes fight for equality to Slovakian court
-
World's top cocoa producer aims for a climate-tough bean
-
'High hopes' as Indonesian women get a football league, again
-
Why is Shell facing lawsuits over climate disasters in Brazil and the Philippines?
-
'Expectations high' for Bordeaux-Begles' Champions Cup hat-trick bid, says Depoortere
-
New four-lane bridge opens between China, North Korea
-
Rennie urges All Blacks to stay focused against 'hurting' Wallabies
-
Tech stocks lead rout after US inflation fuels rate hike bets
-
Palmeiras beat Fluminense 2-1 in Libertadores semi-final first leg
-
'No time to recover': UNDP chief sounds alarm on growing poverty after Iran war shock
-
Brewers blasts leave Dodgers on brink
-
Australia says won't let big tech have 'unfettered' access to kids
-
Tech stock lead rout after US inflation fuels rate hike bets
-
Mobile clinics battle Mongolia's childhood dental 'disaster'
-
Al-Fayed survivors say UK police missing 'bigger picture'
-
Wallabies back Meredith as playmaker for second New Zealand Test
-
Online 'witch hunt' sweeps up Asians misidentified as US rape accused
-
Messi's Inter Miami book playoffs with 2-0 win over New York City
-
Prospect of Bolsonaro win looms large over Brazil's Indigenous
-
Oil-rich Alberta tests Canada's unity with secession vote
-
Freed from Belarus, founder of Lady Gaga's biggest fan site tells his story
-
EU leaders head for showdown over bloc budget
-
Behind AI's carbon footprint, a potential climate tool
-
All Blacks make three changes for second Wallabies Test
-
Trump's new press secretary faces scrutiny over credentials
-
Mourinho blasts 'shameless' timing of Vinicius ban decision
-
PSG 'got lucky' to win Man City thriller, says Luis Enrique
-
PSG beat Man City in Champions League thriller, Barcola hits Liverpool hat-trick
-
Real Madrid comeback stuns Roma as Mourinho enjoys happy reunion
-
US Treasury chief urges stronger IMF role against 'distortionary policies'
-
Shakhtar make winning start at new Champions League 'home'
-
Giant-killers Bodo sink Dortmund in Champions League
-
Hat-trick hero Barcola primed to shine for Liverpool: Iraola
-
PSG outgun embattled Man City in six-goal Champions League thriller
-
Villa put six past Fenerbahce in record rout
-
In Chicago, pope's hometown, Catholics express shock and support
-
US stocks fall after hot inflation report as leading AI shares tumble
-
Musk suggests US govt behind any slowdown in Ukraine's Starshield system
-
Government buildings torched in violent Albanian protests
-
Chiclayo prays for recovery and return of the 'Peruvian pope'
-
Wall Street grills Bank of America over money laundering fine
-
Barcola scores hat-trick as Liverpool hit LASK for six
-
Mekies extends contract as Red Bull team principal until 2031
49ers Enterprises agree deal for Leeds takeover
Leeds chairman Andrea Radrizzani has agreed a deal to sell his controlling stake in the club to co-owners 49ers Enterprises, the recently relegated Premier League club said on Friday.
As a result the American investment group, owner of NFL franchise the San Francisco 49ers and a minority shareholder in Leeds since 2018, will take full ownership.
"Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club," said a statement.
"Both parties continue to work through the details, and further updates will be provided soon.
"All of our focus remains on a quick return to the Premier League."
49ers Enterprises increased its stake in Leeds to 44 percent in 2021 with the option of buying Radrizzani's remaining 56 percent before January 2024.
That agreement, which had valued Leeds at around £400 million ($500 million), was contingent on the club remaining in the Premier League.
Leeds' relegation last month forced both parties back into negotiations with the deal now reportedly worth a valuation of just £170 million.
Italian businessman Radrizzani bought Leeds in 2017 and helped lead the club back to the Premier League for the first time in 16 years as the appointment of Marcelo Bielsa as manager proved a masterstroke.
However, after just three years back in the top flight, Leeds will find themselves in the Championship next season after finishing 19th in the Premier League.
C.Meier--BTB