LONDON: Leeds United Football Club has announced that the EFL has approved the sale of the Club to 49ers Enterprises, paving the way for the immediate transition of ownership.
49ers Enterprises already owned 44 per cent of Leeds, but have now agreed a deal to purchase the remaining 56 per cent stake from Andrea Radrizzani; Leeds will play in the Sky Bet Championship in 2023/24 after relegation from the Premier League
Paraag Marathe, previously Vice Chairman and Board member of the Club, will take over as Leeds United Chairman. In this role, Marathe will oversee all aspects of the Club, including football and business operations, and drive the strategy to fight for promotion back to the Premier League in the 2023-2024 season. Marathe takes over from Andrea Radrizzani, who has been majority owner of Leeds United since 2017. Angus Kinnear, CEO of Leeds United and Board member, will remain in his current position, and continue to direct the Club’s day-to-day
operations. Rudy Cline-Thomas, Founder and Managing Partner of MASTRY, will join the Board as Co-Owner and Vice Chairman of the Club.
“This is an important moment for Leeds United and we are already hard at work,” said Marathe. “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.”
49ers Enterprises, led by Marathe and 49ers CEO Jed York, has steadily supported and increased its investment in Leeds United over the past five years. Moving forward, the group will look to enhance all aspects of the Club both on and off the pitch. Marathe, Kinnear, and the Club recently announced the appointment of Daniel Farke as First Team Manager. The Club’s leadership has also been laying the groundwork to build a successful squad by retaining key players from last season’s team as well as bringing in new talent.
