Leeds United will only be taken over by the 49ers Enterprises should owner Andrea Radrizzani leave the club, according to journalist Phil Hay.
What's the latest takeover news at Leeds?
Following the 4-1 Premier League defeat to Tottenham Hotspur on Sunday, Sam Allardyce’s side were relegated to the Championship after a three-year spell in the top-flight, and whilst plenty of work will be going on behind the scenes in terms of incomings and outgoings to change their fortunes on the pitch, there is also a lot taking place off it.
According to Leeds Live, ever since Marcelo Bielsa was appointed in 2018, the 49ers have been putting the pieces in place to complete a full takeover of the club, with the plan all along being to take full control from the Italian businessman, and this summer was the exact time that they wanted to get it finalised.
The Elland Road holders already own more than 40% of the Yorkshire outfit so it would simply be a case of buying the remaining shares in order to get it over the line, and with Radrizzani reportedly having invested into Sampdoria, that could lead to his permanent departure from LS11.
Is Andrea Radrizzani leaving Leeds?
Writing in his column for The Athletic (via MOT Leeds News), Hay revealed that the 49ers are now only willing to go ahead with the takeover if the Leeds owner steps down from his role ahead of the 2023/24 term. He said:
“The spectre of relegation, and the realisation that it was probably coming this time, prompted 49ers Enterprises to initiate fresh discussions with Radrizzani about buying the club regardless of league status. Those negotiations have been ongoing for the past few weeks, urgent and tense.
“As time went on, the relationship between the two sides became more and more delicate and the US group is now clear on two things: that it will only buy at what it considers to be a fair price and that it wants Radrizzani to exit the building, as opposed to him continuing in an active, operational role as a minority stakeholder.
“A major call with the investment group took place this Thursday [just] gone, with 49ers Enterprises still determined to bring a takeover to fruition in the worst-case scenario of relegation.”
Leeds are desperately in need of a fresh start after the huge disappointment of the 2022/23 season, and with Radrizzani being completely absent for the final game of the season over the weekend, the 49ers have to make sure that this takeover goes through.
The Whites’ current majority holder has never really been a favourite among supporters which was proven by the home crowd chanting for him to sell up against Spurs, so the sooner he’s out of the building and there is a new ownership, long-term boss and players in place, the better.
The US Consortium are believed to be ready to pay £170m up front despite relegation occurring which shows how serious they are about transforming the club and moving it in a positive direction so it’s a no-brainer of a deal to complete, though there will no doubt be several speedbumps to overcome between now and the start of the new campaign.