The reason why the new developments in the Leeds United acquisition surface.
Phil Hay believes there is “plenty of work to do” on any potential takeover for Leeds United following relegation from the Premier League.
Leeds United have been relegated from the Premier League back to the Championship after a three-year-stint in the top flight, with that potentially impacting a sale of the club from Andrea Radrizzani to 49ers Enterprises.
That’s according to Phil Hay of The Athletic, who says there is “plenty of work to be done” for Radrizzani buying Serie A side Sampdoria, which could have a knock-on effect for new owners at Elland Road.
The Whites finished 19th following a 4-1 final day defeat to Tottenham Hotspur, and have been relegated alongside Leicester City and Southampton, with Everton ensuring final day survival at the club’s expense.
There is much to sort out now that relegation os confirmed. There are players who are bound to leave, while there is still the question of who will manage the side, who the director of football will be, and above all – who will take ownership of the club.
Last week, Hay has reported that talks are ongoing between Radrizzani and the NFL franchise over a different arrangement to see the 49ers buy Leeds upon relegation, he wrote: “A deal for Radrizzani to sell to 49ers Enterprises is already in place should Leeds stay up but the Americans are keen on buying control regardless, and are actively discussing an arrangement which allows them to move to a majority position in the EFL.”
The current Leeds owner himself has been in Italy in order to discuss his own buyout of Sampdoria – per Di Marzio. Radrizzani was not in attendance as Leeds were relegated to the Championship.
What’s the latest in Leeds United’s takeover saga? Will Radrizzani sell?
Hay has provided an update on the situation for Leeds. He believes nothing is resolved yet, with plenty of discussions needed to iron out multiple deals, which could all have a domino effect on the club.
Hay wrote: “Radrizzani didn’t attend Elland Road yesterday. He’s in Italy after a week of lining up a Sampdoria buy-out. 49ers Enterprises ready to take Leeds on in the Championship – but its valuation has dropped to around £170m, a lot less than Radrizzani stood to earn in the Premier League.
“People involved in the process have felt for the past 18 months or so that Leeds had gone as far as they could under Radrizzani. Progress on things like stadium development was only going to happen via a takeover. A vacuum of clear leadership developed this season.
“49ers Enterprises would want a takeover which sees Radrizzani exit the building, as opposed to maintaining an active role in a minority position. Other possibility is that Radrizzani holds onto 56% stake and tries to get Leeds back up next season.
“Sampdoria announced on Saturday that the group of bidders Radrizzani is involved in have effectively secured exclusivity to push forward a buy-out. Qatar Sports Investments [are] part of that too. But Sampdoria have huge financial problems. So plenty of work to be done there.”
Should Radrizzani sell Leeds this summer?
With relegation confirmed this summer, Leeds need a fresh start and new ideas.
That goes for the board, manager, and players. An overhaul is needed. The relegation gives them a chance to reset and rebuild, which is exactly what they should do.
Leeds need the sale to go through, but the dominos are seemingly not lined up yet for Radrizzani to takeover in Italy with Sampdoria.
There’s a lot of work to do, but the club could go back to the Premier League stronger; however, have no time to waste in the meantime by securing the takeover.