NFL’s 49ers finalize purchase of Leeds United

The house owners of the NFL’s san francisco 49ers have assumed management of the English soccer membership Leeds United.

Leeds United introduced on Monday that the English Soccer League had accredited the sale of the membership to 49ers Enterprises, permitting for “a direct transition of possession.” Leeds was relegated from the Premier League to the second-tier Championship for subsequent season.

“This is a crucial second for Leeds United and we’re already arduous at work,” mentioned Paraag Marathe, who will take over as chairman of the membership. “This transition is a vital reset to chart a brand new course for the Membership.”

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Marathe succeeds Andrea Radrizzani as Leeds’ majority proprietor. Leeds CEO Angus Kinnear will stay in that function.

Marathe and 49ers CEO Jed York lead 49ers Enterprises. The possession group first invested in Leeds in 2018 and elevated its share to 44% in late 2021, then reached an settlement final month to take over Leeds with NBA gamers Larry Nance Jr. and T.J. McConnell becoming a member of as minority companions.

Golfers Jordan Spieth and Justin Thomas will even be minority companions, Spieth mentioned final week, and on Friday NBA star Russell Westbrook also bought a stake in the group.

Leeds appointed former Norwich Metropolis boss Daniel Farke as their new supervisor two weeks in the past, on a four-year contract, to interchange Sam Allardyce, who left the membership by mutual settlement following relegation.

Farke led Norwich to the Premier League in his second season earlier than they had been relegated again to the second tier in 2019-20. They received the Championship and secured a direct return to the highest flight in 2020-21.

“It has been an honor to information Leeds United during the last six years and to spend a lot time with the very best fan base on this planet,” Radrizzani mentioned.

“49ers Enterprises have been unbelievable companions for years and I am assured they may take Leeds to the following degree.”

The assertion didn’t say whether or not the Italian businessman, who can also be chairman and founding father of sports activities broadcasting group Eleven Sports activities, would nonetheless be linked to the membership.

Data from The Related Press and Reuters.

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Printed : 2023-07-17 23:40:23

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