Phil Hay shares news on 49ers takeover
Leeds United correspondent Phil Hay provided an update on the possibility of 49ers Enterprises taking full control of the club from Andrea Radrizzani.
The Lowdown: The £400m+ option
The 49ers companies have been involved with the Whites since 2018 after buying a 10% stake from Radrizzani. That figure has since risen to 44% as the NFL franchise-owning group reached an agreement with Radrizzani over a future 100% takeover.
Reports last December revealed the 49ers had until January 2024 to activate the full takeover worth over £400m.
Leeds flirted with relegation last season which could have ended any possible deal, however, as we know a third season of Premier League football was guaranteed on a dramatic final day at Brentford.
The latest: the Hay update
Speak in a Q&A for Athleticism On Wednesday, Hay provided an update on the 49ers, revealing there has been no sign of a move in recent months to take full control of the club.
He also made statements about the future of CEO Angus Kinnear and director of football Victor Orta, should a takeover materialize.
“If or when 49ers Enterprises acquire Radrizzani, a transition period is likely. Angus Kinnear is expected to remain CEO, at least for the short term, and potentially Victor Orta as well. Orta, like Radrizzani, has repeatedly stated that he plans to stay at Leeds until the club enters Europe. But generally, ownership changes tend to mean a change of guard at the management level, so it’s hard to give a definitive answer.
“What we can say is that over the summer 49ers Enterprises has not made a decision to increase its minority stake to 44%. The group has an option to take majority control before 2024, but it has not been activated yet.
The Verdict: This crucial season?
You would expect the 49ers group to have pulled out of their deal in place for full control of Leeds had the club suffered relegation last season.
Therefore, the current campaign under Jesse Marsch could be vital in regards to a possible takeover. A strong season under the American could eventually persuade the NFL franchise to exercise their option in 2023, where there would be just six months remaining on their deal with Radrizzani.