The deal amounted to 170 million pounds
American company 49ers Enterprises fully redeemed the shares Leeds behind 170 million pounds. The deal was approved by the Premier League after checking all the documents.
Club vice-president Paraag Marate will become the new Chairman of the Board, replacing former majority shareholder Andrea Radrizzani. Angus Kinnear, CEO, has retained his position. Rudy Kline-Thomas joined the Board of Directors as co-owner and Deputy Head of the club.
49ers Enterprises, which owns the NFL’s San Francisco 49ers, was a minority shareholder in Leeds with a 44% stake after 2021. Radrizzani planned to sell his stake to the Americans for 400 million pounds. However, the relegation of the team to the Championship affected the revaluation of the club’s assets to 170 million pounds.
Leeds finished 19th in the 2022/23 Premier League. The club fired head coach Sam Allardyce. The Foxes will start the new season against Cardiff in the first round of the Championship on 6 August.
Source: Sportarena
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