Leeds United owner Andrea Radrizzani has agreed to the complete sale of the club to minority owners 49ers Enterprises, according to the Daily Mail.
The San Francisco-based investment fund previously held a 44% stake in the club but are in line for complete ownership, with Radrizzani now ready to relinquish control of the club.
The Italian took charge of Leeds as a Championship club and will end his tenure in a similar fashion after the Lilywhites were relegated to the English second tier.
The Yorkshire outfit have enjoyed a rollercoaster three-year spell in the English top flight after first gaining promotion in 2020, but it ended abruptly when they finished 19th this season.
Radrizzani will sell his 56% stake in the club to 49ers Enterprises with confirmation from the English Football League (EFL) all that remains for the deal to be rubber-stamped.
Radrizzani’s desire to relinquish ownership at Leeds comes after securing a deal to return to his country by purchasing the newly relegated Sampdoria.
The Blucerchiati suffered their first relegation in 13 years after finishing bottom of the pile in Serie A. But Radrizzani is well versed in returning lower league clubs to the top flight, having done the same with Leeds.
The complete takeover by 49ers Enterprises values the club at around £170 million, with Radrizzani missing out on over £250m from the deal due to Leeds’ return to the Championship.
The Italian previously agreed to a valuation of £420m that would have netted him over £200m from selling his remaining stake, but that was contingent upon Leeds retaining their Premier League status.
The deal also includes the ownership of Elland Road, Leeds’ home ground that Radrizzani had reportedly offered as security in his attempts to buy Sampdoria.
The Premier League has approved the deal, and the EFL will now assess the 49ers’ investors under their Owners and Directors test before the transaction is made official.
