Kieran Maguire: Third investor could join Radrizzani and 49ers at Leeds after document reveal
Leeds United may have restructured their constitution to allow another investor to buy into the club at a later date.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest boardroom developments at Elland Road.
Leeds confirmed on 5 November that American football side San Francisco 49ers have increased their stake in the club by seven per cent to 44 per cent.
Documents filed with Companies House on 11 November revealed that Leeds have made subsequent changes to their ownership structure.
The club has removed pre-emption rights, meaning existing shareholders are free to sell their equity to third-party investors.
Andrea Radrizzani, through his investment vehicle Aser Ventures, owns the remaining 56 per cent of Leeds’ shares.
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Maguire revealed that Leeds’ latest actions will allow either Radrizzani or the 49ers to bring another investor on board in the future.
“We saw something similar with one of SF 49ers’ earlier investments,” he told Football Insider correspondent Adam Williams.
“This is just general housekeeping to allow the club to issue more shares to a third party at a later date.
“But this will also allow shareholders to trade shares between themselves. There will also be issues such as the right to appoint directors.
“The 49ers have Paraag Marathe currently on the board. So this is just protecting their rights as their investment grows.
“We don’t know whether their long-term ambitions are to acquire a majority stake in the club, but they are not far away from that at present.”