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Leeds United owner Andrea Radrizzani is reported to be in negotiations with 49ers Enterprises to sell the Yorkshire club recently relegated from the Premier League.
The American group, which already own 44% of the club, wants to purchase the remaining shares in a transaction that could be worth £500m ($619,335).
The Italian Radrizzani purchased the club in October 2017, and the American group later came in to purchase a stake of the club.
The 48-year-old club owner reportedly flew to the United States late last week to finalize a revised agreement, and negotiations are reportedly at an advanced stage.
The American group, which owns the San Francisco 49ers of the National Football League, wishes to acquire the remaining 56% stake from the Italian, but not at the price previously agreed upon.
This is due to the fact that the fee was negotiated under the condition that the Whites would remain in the Premier League.
However, following a 4-1 home loss to Tottenham Hotspur on the final day of the season, a game which Radrizzani did not attend, Leeds finished 19th and were relegated to the Championship after three years in the Premier League.
Football Finance Expert Claims Relegation Will ‘Impact’ Leeds Valuation
According to Sky Sports, advanced negotiations for the sale of Radrizzani are currently underway. Keiran Maguire, a football finance expert, has explained how the relegation of Leeds will affect a potential takeover.
“There will be an impact. That will have been factored into the price the 49ers were willing to pay,” Maguire told Sky Sports. “There are rumors Andrea Radrizzani, the Leeds owner, is looking to buy Sampdoria.”
“I think we will see an announcement in terms of Leeds accelerate,” he added.
“Whatever’s going to happen to Leeds over the summer, it’s absolutely essential we have owners in place who can set a budget, stick to that budget and make key decisions in terms of management and player recruitment,” Maguire explained.
Sky Sports reported that once the takeover has been completed, Radrizzani and the club’s chief executive Angus Kinnear will supervise a transition period.
Kinnear is anticipated to remain in his position until the conclusion of the current season, with his top priorities being the hiring of a new head coach and sporting director.
According to reports, Leeds are already weighing their options as they seek the ideal candidate to become the new manager at Elland Road.
The club is likely to replace Sam Allardyce after he earned just one point in his four games in charge as his outfit conceded 11 goals. Following the confirmation that Leeds would return to the Championship, the club issued an apology to its faithful.
“Everyone connected with Leeds United is deeply disappointed by the club’s relegation back to the Sky Bet Championship, after three seasons in the Premier League,” the club wrote in a statement following its relegation to the EFL Championship.
“Relegation is painful, and we apologize to our fanbase that the performances this season have not seen the club consolidate our status as we had all hoped. However, Leeds United remains in a strong position to build a team that can challenge for promotion from the Championship next season.”
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