By Sean Fisher

10th Oct, 2023 | 11:50am

Revealed: 49ers have started process of completing £25m Leeds United deal

The 49ers have started the process of purchasing shares in Elland Road following their takeover of Leeds United, Football Insider can reveal.

Elland Road Ltd published their 2022/23 accounts on Monday (9 October) via Companies House, revealing a profit of £1.5million last season.

The stadium’s parent company is still owned by former Leeds chairman Andrea Radrizzani, who sold the club to the 49ers this summer.

Radrizzani has since taken over Italian side Sampdoria but remains the majority shareholder of Elland Road.

Leeds CEO Angus Kinnear is also listed as one of four directors on the board at Elland Road Ltd.

The latest accounts revealed that Elland Road was bought by the parent company for £25million when it was created in 2020.

It also states that 49ers Enterprises have purchased shares in the company, but not enough to gain majority control from Radrizzani.

The US-based group intend to take majority control of the stadium soon in order to begin their expansion plans to the 38,000-seater venue.

As revealed by Football Insider in July, the 49ers have drawn up plans to expand Elland Road to a capacity of 55,000.

The project is expected to cost upwards of £100million and includes a complete redevelopment of the stadium’s West Stand.

The 2022/23 accounts reveal that an agreement is already in place between Radrizzani and the 49ers to transfer 100 percent of the stadium’s shares, but the sale process is gradual.

In other news, Kieran Maguire says Leeds United could now reap dividends from loan clause ‘gamble’