Leeds have announced the EFL has approved the club’s takeover by American investment group 49ers Enterprises.
Chairman and majority shareholder Andrea Radrizzani agreed to sell his controlling stake last month and the deal, which valued the club at around £170million, has now been confirmed.
49ers Enterprises, which owns NFL franchise the San Francisco 49ers, has steadily increased its stake in Leeds since becoming a minority shareholder in 2018, while the deal includes full ownership of Elland Road.
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 boss 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.
Marathe said in a Leeds statement: “This is an important moment for Leeds United and we are already hard at work.
“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.”
Cline-Thomas said: “With my family hailing from Leeds, it’s an honour to be able to uplift this incredible community.
“This is more than just an opportunity, it’s a personal mission. The chance to reinvigorate the cherished Leeds culture, to create a platform that attracts the world’s finest players, and build a truly global brand that celebrates diversity, is a prospect that thrills me.”
49ers Enterprises increased its stake in Leeds to 44 per cent in 2021 with the option of buying Radrizzani’s remaining 56 per cent before January 2024.
The Americans had been keen to push through a full takeover this summer, but that agreement, which had valued Leeds at around £400million, was contingent on the club remaining in the Premier League.
Leeds’ relegation forced both parties back into intense negotiations and a valuation of close to £170m was agreed.
The deal marks the end of a six-year ownership of Leeds for Radrizzani, who said: “It has been an honour to guide Leeds United…and to spend so much time with the best fan base in the world.
“49ers Enterprises have been fantastic partners for years and I’m confident they will take Leeds to the next level.”
Radrizzani completed a full takeover from fellow Italian Massimo Cellino in 2017 and was initially hugely popular.
He bought back Elland Road stadium, which had been in private ownership since 2004, and brought in fresh investment when 49ers Enterprises purchased its first 10 per cent stake in 2018.
The appointment of Marcelo Bielsa soon after proved a masterstroke as Leeds won promotion back to the Premier League for the first time in 16 years.
But Radrizzani’s relationship with the Leeds fan base began to sour when Bielsa was sacked in February 2022.
Leeds escaped relegation on the final day of the 2021-22 season and Radrizzani promised that the club would not be involved in another survival fight.
But results this past season failed to improve under three different managers. Jesse Marsch and Javi Gracia were both sacked, while Sam Allardyce left after his four-game rescue mission ended in failure.
When relegation was confirmed with a final-day defeat to Tottenham, Radrizzani was absent from Elland Road, opting instead to remain in Italy to finalise his takeover of Sampdoria.
He later admitted Leeds’ board had made mistakes and apologised for the club’s relegation in a personal statement posted on social media.
But after it emerged he had offered to use Elland Road as collateral when securing a £26m bank loan to buy Sampdoria – one of his companies and not Leeds owned the stadium – his legacy was further tainted.
Saudi Pro League: Mahrez and Firmino on target as Al-Ahli tighten grip on third place
Riyad Mahrez and Roberto Firmino were both on target as Al-Ahli tightened their grip on third place in the Saudi Pro League table with a 4-1 win over Damac on Thursday.
Matthias Jaissle's team were four goals up within just 25 minutes as Damac folded, Ziyad Al Johani and Feras Al Brikan netting their first two before Franck Kessie was felled by Dhari Al Anazi for a penalty, converted by Mahrez.
Firmino then tapped home a fourth after being teed up by former Newcastle United winger Allan Saint-Maximin on the break, but Al-Ahli took their foot off the gas from there, Domagoj Antolic's second-half consolation rounding off the scoring.
Elsewhere, 10-man Al-Riyadh scored two stoppage-time draws to earn a dramatic 2-2 draw with Al-Fateh in Al-Mubarraz.
Goals from Djaniny and former Columbus Crew star Lucas Zelarayan put Slaven Bilic's hosts on the brink of victory, with Al-Riyadh playing almost half the game a player down after Khalid Al Shuwayyi's 54th-minute red card.
An astonishing collapse denied them, however, with Mohammed Al Shwirekh halving the arrears one minute into stoppage time before Didier Ndong headed in a left-wing cross three minutes later.
Thursday's other game saw Al-Hazm and Al-Akhdoud play out a goalless draw, keeping the hosts bottom of the table while Al-Akhdoud inched two points clear of the relegation zone.
Will Still leaves Reims job with immediate effect
Will Still has left his role as Reims head coach with immediate effect, the Ligue 1 club announced on Thursday.
Still took over as Reims boss – initially on an interim basis – after Oscar Garcia was sacked in October 2022 and went unbeaten through his first 19 league games at the helm.
The 31-year-old was eventually handed the role on a permanent basis and led Reims to an 11th-placed finish in Ligue 1 in 2022-23, with his lack of a UEFA Pro Licence causing the club to be fined €25,000 per match until he began the course.
Reims are currently 11th in Ligue 1 again, though they are winless in their last five games and have lost each of their last three.
In a statement, the club said: "Following a meeting this morning between president Jean-Pierre Caillot, general manager Mathieu Lacour and head coach Will Still, it was mutually agreed that the two parties would not continue the sporting adventure together next season.
"In order to allow Reims to confidently look forward to the next year, it was also decided that Will Still and his deputy Nicolas Still would step down from their respective functions as of today."
Still was linked with the Sunderland job earlier this season and said in February that he would be open to joining an "ambitious" Championship club.
Coventry City 1-2 Ipswich Town: Burgess puts Tractor Boys on brink of promotion
Ipswich Town took a huge step to Premier League promotion after Cameron Burgess snatched a second-half winner in Tuesday's 2-1 victory over Coventry City.
Kieran McKenna's side require just one point from their final Championship game against League One-bound Huddersfield Town to go up, after a decisive victory at the Coventry Building Society Arena.
Kieffer Moore blasted in an eighth-minute opener for the visitors after Wes Burns' crafty cutback pass, easing the pressure on Ipswich and dampening the top-two hopes of third-placed Leeds United.
Haji Wright levelled in the second half, only for Burgess to squeeze a winning goal past Bradley Collins five minutes later, putting Ipswich on the brink of top-flight football for the first time since their relegation in 2002.
A draw against Huddersfield, who are 23rd and three points adrift of safety, would secure promotion at Portman Road, marking just the fourth instance of back-to-back promotions in the Premier League era.
Having managed to climb out of League One, McKenna's entertaining side would join Watford, rivals Norwich City and Southampton as the only sides to achieve the feat.
Data Debrief: Ipswich end winless run at perfect time
Prior to this game, only five teams had won fewer points in the Championship than Ipswich's six since the beginning of April (W1 D3 L1).
Yet McKenna's men refused to let their top-flight push derail as the Tractor Boys ended a four-game winless run to move within touching distance of history.
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