Leeds United have confirmed the English Football League has formally approved the 49ers Enterprises’ £170 million takeover of the club from Andrea Radrizzani.
49ers Enterprises, which owns the NFL’s San Francisco 49ers, purchased a 15% stake in the Yorkshire outfit in 2018 before increasing it to 44% in 2021.
They now have assumed full control after purchasing Radrizzani’s stake in the Championship club.
Former vice chairman Paraag Marathe will now serve as chairman at Elland Road, while Angus Kinnear will continue in his role as chief executive.
Rudy Cline-Thomas will join the board as co-owner and vice chairman.
“This is an important moment for Leeds United and we are already hard at work,” Marathe said in a statement. “This transition is a necessary reset to chart a new course for the club.
“We have already appointed a highly-respected First Team Manager with a track record of success, and we are confident Leeds will field a competitive squad to contend for promotion next season.
“It’s a privilege to carry this torch as I know we have a responsibility to ensure this Club makes our staff, players, supporters, and the Leeds and Yorkshire communities proud.”
Radrizzani became Leeds’ owner in 2017 after completing a full takeover from Italian entrepreneur Massimo Cellino.
The appointment of Marcelo Bielsa during his reign proved to be a good decision as the Argentine led them to Premier League promotion for the first time in 16 years.
However, Radrizzani’s relationship with the Whites’ supporters soured when he sacked Bielsa in February 2022.
Manager Jesse Marsch helped them to maintain their top-flight status on the final day of the 2021-22 campaign.
But the American boss was dismissed from his position after a series of poor results last season.
Leeds desperately tried to remain in the Premier League by appointing Javi Gracia and then Sam Allardyce, but ultimately suffered relegation to the Championship.
The Whites’ fans are unlikely to miss Radrizzani, considering the club’s decline in the last two years.