The 49ers Enterprises have completed a full takeover of Leeds United from Andrea Radrizzani.
The investment vehicle linked to NFL side the San Fransisco 49ers has ended the Italian businessman’s six-year reign at Elland Road by purchasing his 56 per cent stake.
49ers Enterprises already owned 44 per cent of the club’s shares, but are now in full control of the recently relegated team.
Confirming the deal, a statement from the Yorkshire club read: “Leeds United can confirm an agreement has been reached between Aser Ventures and 49ers Enterprises for the purchase of the club.
“Both parties continue to work through the details, and further updates will be provided soon.
“All of our focus remains on a quick return to the Premier League.”
The deal values Leeds at £170million, and it also includes the ownership of Elland Road, which Radrizzani reportedly offered as security in his attempts to buy Sampdoria.
It is said that over 60 investors make up 49ers Enterprises, with current Leeds board members Paraag Marathe and Peter Lowry involved.
A valuation of £420million was agreed by Radrizzani but following their relegation, the 49ers’ valuation decreased by £200million.
Radrizzani had become unpopular among fans as the club plummeted towards a Championship return.
Finishing 19th in the Premier League, Leeds’ three-year stint back in the top flight ended having made a return after 16 years away.