Kieran Maguire: 49ers crucial in securing big profit from 'ambitious' Leeds development
Leeds United will use the “expertise” of the San Franciso 49ers to ensure their upcoming stadium development delivers maximum profit.
That is according to finance guru and Football Insider columnist, speaking exclusively after Leeds took a major step towards boosting capacity at Elland Road.
Leeds Live reported on 23rd June that Leeds City Council gave the green light for the club to scrap plans to develop their training complex.
Leeds applied to withdraw their designs for the development in order to concentrate on raising the number of seats at their stadium to 55,000.
NFL franchise 49ers increased their stake in Leeds from 15 to 37 per cent in January.
Paraag Marathe, the president of the 49ers, joined Leeds as vice-chairman as part of the deal.
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Maguire claimed that they can use their know-how to turn Elland Road into a multi-use venue and drive higher prices.
He told Football Insider correspondent Adam Williams: “It definitely has the capacity to sweat the asset, especially if the development can sell high-value seats.
“Effectively, when you hire out your ground for concerts, the promoter pays a fixed amount.
“The higher quality the stadium, the more the promoter will be willing to pay.
“I think Leeds will be looking to utilise the expertise of the San Francisco 49ers to broaden the scope.
“They want to narrow the gap between their stadium income and those clubs who are presently benefiting from being in the Champions League.
“This ambitious development is one way of doing that.“