49ers Enterprises have reached an agreement to acquire ownership of Leeds United from Andrea Radrizzani.
The American-based 49ers, who owned a 44% stake in Leeds, are now set for the complete takeover of the club.
A statement from Leeds read: “Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club.
“Both parties continue to work through the details, and further updates will be provided soon.”
Radrizzani’s management came under intense scrutiny following an abysmal Premier League campaign, finishing second bottom in the table and dropping into the Championship.
Since manager Marcelo Bielsa – the man responsible for Leeds’ promotion to the top flight in 2020 – left Elland Road in 2022, the Whites’ form has spiralled downwards.
His successors Jesse Marsch, Javi Gracia and Sam Allardyce failed to keep Leeds afloat.
The Italian tycoon further incurred the wrath of the Leeds faithful after using Elland Road as collateral to buy Sampdoria.
“I am sincerely sorry for how this season has unfolded, “ Radrizzani apologised to the fans after Leeds’ relegation (h/t the Guardian).
“We have made significant investments to try [and] keep Leeds United in the Premier League, but in working hard to improve the club, we have also obviously made some mistakes.
“We are reflecting on the decisions that we have taken, to ensure we learn the lessons to improve our club and make progress in the future.”
“We have invested heavily in Leeds United since 2017 and worked hard to get back to where the club deserves to be.
“With the support of our partners, we can continue that journey to bounce back.”
49ers will be tasked with appointing a new manager once the formalities are done, with reports stating that Daniel Farke is the leading contender for the job.
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