Sources: 10-year 49ers plan revealed as Leeds United takeover all but done
The San Francisco 49ers expect to be in control at Leeds United for 10-15 years once they complete a full takeover of the club this summer, Football Insider has learned.
The investment arm of the NFL outfit has steadily increased its stake in Leeds to 44 per cent since it first bought into the club in 2018, and they have a put-and-call option for a full takeover before January 2024.
But as has been reported elsewhere, Football Insider understands that 49ers Enterprises plan to buy out majority owner Andrea Radrizzani well before that date, with a takeover in the off-season looking increasingly likely.
The 49ers, whose president Paraag Marathe is now second in command in the Leeds boardroom, remain committed to the plans even in the event of relegation from the Premier League.
The loss of their top-flight status would impact the West Yorkshire side’s short-term value, but the 49ers are pursuing a long-term capital appreciation model and believe the club is undervalued in any case.
Sources insist that they would therefore not be deterred by what they hope would be a brief stay in the Championship, although it would make them less inclined to pay the full price agreed in the put-and-call option.
The exact price has been variously reported as between £400m and £500m and does not waver if Leeds, who are currently 15th in the top flight, are relegated to the second tier.
While the 49ers can automatically trigger a full takeover at the agreed price before January next year, they are also free to offer a lower amount, although there is no guarantee that would be accepted by Radrizzani.
The 49ers are keen to expand Elland Road’s West Stand as part of plans to eventually boost capacity at the 126-year-old ground to beyond 60,000.
The investment firm believes that capital expenditure projects, commercial development, and on-pitch success driven by investment in the transfer market will lead directly to long-term capital appreciation.
While Radrizzani is expected to bank a 10-fold return on his original investment just six years ago, the 49ers’ plan to take Leeds to the next level will require a more protracted approach.
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