Sources: Leeds United accelerate Elland Road plan after US deal agreed
Leeds United chiefs have accelerated plans to expand Elland Road after securing external investment for the project, Football Insider has been told.
Following their takeover of the club in the summer, the 49ers Enterprises have reiterated their plans to expand the 37,800-capacity stadium.
As revealed by Football Insider in July, the 49ers have already drawn up plans to expand Elland Road.
The project is expected to increase capacity to around 55,000 and will cost upwards of £100million to complete.
Most of the increased capacity is understood to come from a complete redevelopment to Elland Road’s West Stand.
Just months after completing their takeover, the 49ers are ready to fast-track Elland Road’s expansion using money raised through share sales.
As reported by Bloomberg, the 49ers sold a minority stake to Ackerley Partners this summer.
The amount of shares sold to the US investors is undisclosed, but the report adds that it will ‘provide strategic capital to expand the football and commercial operations of the club’.
As well as the Ackerley Partners deal, Football Insider revealed that Leeds are set to open talks with another US group over a minority investment deal.
It is understood that cash raised from the second minority investment deal will contribute to the club’s infrastructure budget.
The expansion would provide a significant boost to the club’s matchday revenue and The Athletic reports that a 55,000-seater stadium could increase Leeds’ annual revenue to around £400million.