The English Football League has approved Leeds United’s takeover by American investment group 49ers Enterprises, the club have announced.
Chairman and majority shareholder Andrea Radrizzani agreed to sell his controlling stake last month and the deal, which valued Leeds at around Stg 170 million ($A326m), has now been confirmed.
The buyers, 49ers Enterprises – which has among its investors golfers Jordan Spieth and Justin Thomas – also own the NFL franchise the San Francisco 49ers.
The group has steadily increased its stake in Leeds since becoming a minority shareholder in 2018.
The deal includes full ownership of the club’s Elland Road stadium, where Australian stars such as Harry Kewell and Mark Viduka first made their names in the English game.
Paraag Marathe, previously vice-chairman, will take over as chairman, chief executive Angus Kinnear will remain in his current position and Rudy Cline-Thomas, founder and managing partner of venture capital firm MASTRY, will join the board as co-owner and vice-chairman.
Former Norwich City coach Daniel Farke was appointed manager on a four-year deal earlier this month ahead of the coming season’s bid to secure an immediate return to the Premier League following relegation in May.
“This is an important moment for Leeds United and we are already hard at work,” Marathe said in a statement.
“This transition is a necessary reset to chart a new course for the club. We have already appointed a highly respected first-team manager with a track record of success, and we are confident Leeds will field a competitive squad to contend for promotion next season.
Having increased their stake in Leeds to 44 per cent in 2021, 49ers Enterprises had an option of buying Radrizzani’s remaining 56 per cent before January 2024.
The Americans had been keen to push through a full takeover during the northern summer, but that agreement, which had valued Leeds at around Stg 400m ($A767m), was contingent on the club remaining in the Premier League.
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