The 49ers Enterprises’ proposed takeover of Leeds United “is essentially done” but is “contingent” on the club remaining in the Premier League, David Ornstein reports.
What’s the latest Leeds takeover news on the 49ers?
The 49ers have the option to take full control in Yorkshire from Andrea Radrizzani until January 2024. Phil Hay stated last month that a takeover was looking likely this summer, although recent reports have suggested that there are genuine fears relegation could see the American investors walk away from a proposed deal.
Reliable reporter Ornstein was talking to NBC Sports Soccer prior to on Monday evening regarding Leeds’ future and a potential 49ers takeover.
Relayed by MOT Leeds News, Ornstein said that a takeover “is essentially done”, however, it is “contingent on Leeds being in the Premier League”, stating that financially, relegation would be “massive”.
“The cost of relegation would be massive for them and that’s why we’re on tenterhooks here: ‘If we’re interested in Leeds United not only from a financial perspective but from a football one as well.’
“Premier League football has helped transform Leeds United’s revenue but if you look at their financial accounts, there is a realisation that they have maxed out on what they’re able to raise and that’s largely due to their stadium size and it needs some improvements.
“Andrea Radrizzani, who’s been leading this project since 2017, has done fantastic things for the club but he can’t take them on any more on his own and that’s why the 49ers Enterprises come into play.
“It’s a consortium largely backed by American financiers and they’ve been building their stake in Leeds since 2018 and they’re really part of the furniture now.
“I broke a story a while ago that they have an option to buy the club in excess of 400million in January 2024 but it’s always been likely that the takeover will be completed early.
“I understand that the deal is essentially done but it’s contingent on Leeds being in the Premier League, retaining their status in the Premier League and that’s why it makes their survival so important.”
Huge few months both on and off the pitch
Leeds find themselves in a similar position to last season on the pitch with seven games remaining, and relegation could impact the club hugely going forward.
It appears as if there could well be a rethink from the 49ers if Leeds go down, but if Javi Gracia guides the Whites to a fourth season in the top flight, it would be all change at the top.
Therefore, it looks set to be an eventful few months both on and off the pitch no matter what, and Radrizzani may well be desperate for the club to stay up so he can sell and move on, possibly to a share in Inter Milan after recent speculation.