Planned Leeds United investment and Elland Road ownership detail revealed in Angus Kinnear meeting – YEP 11/10/23

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Leeds United have communicated planned changes and the positive impact of the 49ers Enterprises-led takeover of the club during the summer at the latest Supporters’ Advisory Board (SAB) meeting.

By Joe Donnohue

Minutes from the latest meeting between club chief executive Angus Kinnear and representatives of the SAB have been released, in which details regarding ownership, stadium redevelopment and the January transfer window were discussed.

Kinnear said the 49ers’ takeover has had a positive effect on club funding, including proposed stadium and training ground upgrades, as well as prospective work in upcoming transfer windows.

Leeds are content with the direction in which the club has travelled since Daniel Farke’s appointment as manager over the summer and are focused on fostering an environment which will permit the German and his staff to deliver the best possible results on the pitch.

Discussions have taken place regarding strength and conditioning, subsequent to which, a particular focus will be placed on ensuring players are in optimal physical condition over what the board acknowledge will be a long and arduous season, with 35 league games still remaining.

With respect to the ownership of Elland Road, Kinnear admitted the transfer of such an asset is a lengthy process but communicated to members of the SAB the ‘entities which own the 49ers will own the stadium’, although did not offer a time-frame.

Leeds’ most recent set of accounts, up to June 2022, confirmed that Elland Road’s absorption by the 49ers is in motion. Seventy-one per cent of the Elland Road company was owned by Radrizzani as of May last year, while new majority owners 49ers Enterprises held a 22 per cent share. An additional seven per cent was in the name of Football Investment Fund, a 49ers subsidiary. A statement in Leeds’ accounts, regarding the transfer of ownership of Elland Road, read: “Post year end, the company’s immediate parent, Greenfield Investment Pte Limited, entered into an agreement to sell 100 per cent of its interest in the company to 49ers Enterprises Global Football Group LLC in a transaction that is due to complete after the signing of these financial statements.”

This means ownership of Elland Road will eventually pass into 49ers’ hands. Currently, Leeds’ annual Elland Road rent amounts to £1.7 million with the lease running until 2032.

In addition to Kinnear’s stadium update, there was also the mention of planned investment in the medical team, as well as more granular attention to be paid to nutrition, match preparation and the team’s travel arrangements for games.

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