Confirmed: Andrea Radrizzani still yet to relinquish major Leeds United asset to 49ers as financial documents emerge – Leeds All Over 10/10/23
Kris Smith
Leeds United, under the ownership of the 49ers Enterprises,
are yet to complete their transfer of shares to acquire Elland Road from Andrea
Radrizzani.
The Whites are hoping for a bright future despite their
relegation from the Premier League, having seen ownership change hands in the
summer months.
Andrea Radrizzani left the club, replaced as majority shareholder
by the 49ers Enterprises after plenty of time on the board at Elland Road.
What’s the latest?
Despite the club being under new ownership, finance expert
Kieran Maguire has shared documents from Companies House confirming that the
49ers do not yet own the shares to Elland Road, which are still under Andrea
Radrizzani’s name:
Elland Road Ltd, the company still controlled by former
Leeds United owner Andrea Radrizanni and which owns the stadium, publishes
accounts for year ended 30 June #LUFC pic.twitter.com/waZXAVVBzo
— Kieran Maguire (@KieranMaguire) October 10, 2023
Further details are shared including the fact that Elland
Road LTD, the holding company for the stadium, made a profit of £1.5million in
21/22, as well as charging £1.7million-a-year for rent, a lease which lasts
until the year of 2032.
A key bit of information was included to round off the
thread, sharing that some shares had previously been transferred to the 49ers,
but not enough for them to take ownership:
Some shares were sold in the year to SF49’ers but not enough
for them to take control of the stadium pic.twitter.com/BIUE4ySxjy
— Kieran Maguire (@KieranMaguire) October 10, 2023
An agreement is in place for the club to complete this
handover of shares in due course though, which should hopefully happen at some
point soon after Radrizzani left for Sampdoria in the summer.
It might seem worrying from face value to see that we still
don’t technically own Elland Road, or at least that our owners don’t.
However, it’s clearly in place to be sorted out in the near
future, because the 49ers have big plans to do that very soon.
