Sources: Leeds United takeover gets EFL green light after documents scrutinised - Football Insider 21/6/23
By Sean Fisher
The full takeover of Leeds United by the investment arm of
the 49ers will be finalised imminently after being given the green light by the
EFL.
The Yorkshire club is in the process of being taken over by
the American investment group after a deal was struck with former owner Andrea
Radrizzani.
The 49ers already own a 44 per cent stake in the club but
will adopt full control by purchasing Radrizzani’s remaining 56 per cent stake.
The deal was initially valued at £400million before Leeds’
relegation to the Championship in 2022/23, which has slashed the asking price
to just £170million.
Leeds published a club statement on 9 June confirming that
an agreement was in place between the 49ers and Radrizzani, with both parties
continuing to “work through details”.
It is understood that one issue holding up the finalisation
of the takeover was a green light from the EFL, who have to sign off on the
deal now that Leeds are in the Championship.
As reported by the BBC, the EFL has recently introduced new,
tougher regulations for their Owners’ and Directors’ Test.
However, Football Insider has been informed by sources that
both parties have finalised all takeover details and the EFL have completed the
process and green-lighted the deal, which is now set to be completed
imminently.
The 49ers already owning a large stake in Leeds prior to the
takeover helped to accelerate the process, and they are now set to take the
reins of control from Radrizzani ahead of the start of the 2023/24 season.
Leeds are expected to announce 49ers President Paraag
Marathe as the club’s new chairman.