Leeds United owner Andrea Radrizzani has reached an agreement to sell his stake in the club to 49ers Enterprises, the English second division team. He said Friday.
49ers Enterprises, the investment arm of the NFL’s San Francisco 49ers, has been a shareholder in Leeds, recently relegated from the English Premier League, since its initial investment in May 2018.
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Over the past few years, its stake has risen to 44%, while Radrizzani’s Aser Ventures owns the remaining 56%. Leeds said a purchase has now been agreed.
“Both parties continue to work through the details, and further updates will be provided soon,” they said in a statement.
Earlier this season, Radrizzani and partner Matteo Manfredi bought Serie A club Sampdoria.
Leeds were relegated from the first division in England after a lively season under the leadership of four different coaches. They finished second from bottom in the standings with 31 points and will now compete in the EFL Championship next season.
“All of our focus remains on a speedy return to the Premier League,” the statement added.