Leeds United owner Andrea Radrizzani has reportedly agreed to terms for the full sale of the club to the San Francisco 49ers investment fund.
Radrizzani became part-owner of Leeds in early 2017 when he invested in 50% of the club’s share capital.
However, the Italian’s reign at the club looks set to come to an end as the Yorkshire side prepare for their return to the Championship after finishing 19th in the Premier League in the 2022/23 season.
The Daily Mail reports that amid Radrizzani’s deal to sell to the San Francisco 49ers investment fund, details of the deal were passed to the EFL on Tuesday afternoon.
Having already owned 44% of the club, the full takeover of 49ers Enterprises values Leeds at £170million.
The deal also includes ownership of Elland Road, the land in Leeds that Radrizzani is said to have offered as collateral in his bid to buy Sampdoria.
More than 60 investors are said to make up 49ers Enterprises, with current Leeds board members Paraag Marathe and Peter Lowry involved.
A valuation of £420m was agreed by Radrizzani, but following their relegation the 49ers’ valuation fell by £200m.
Following the Premier League’s approval of the deal, the EFL will now assess the 49ers’ investors under their owners and directors test.
Leeds will be looking to bounce back directly into the Premier League under new owners after a disappointing campaign.
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They finished 19th in the English top flight and five points from safety with just seven wins to their name.
Jesse Marsch, Michael Skubala, Javi Gracia and Sam Allardyce have all supported the team at some point in the season.
Leeds are now in search of their next permanent job after leaving Allardyce last week.