Leeds United is undergoing a full American sports takeover.
The English soccer team is in full control of 49ers Enterprises after the club’s majority owner, Andrea Radrizzani, reached an agreement to sell his majority stake on Friday.
49ers Enterprises is an investment arm of the San Francisco 49ers, which initially invested in Leeds in 2018. The team’s ownership stake in Leeds grew over the years, owning 44 percent of the club prior to Friday’s agreement.
Not only are the 49ers involved in the sale, but a pair of NBA players will also become minority owners in the team. New Orleans Pelicans forward Larry Nance Jr. and Indiana Pacers guard T.J. McConnell are both minority investors in the group, Substack’s Marc Stein reported.
Nance confirmed the news in a tweet on Friday.
The 49ers, Nance and McConnell will now be faced with the task of bringing Leeds back up to the Premier League. The club finished second-to-last in the Premier League this past season, causing it to be relegated to the English Football League for the 2023-24 season.
“All of our focus remains on a quick return to the Premier League,” the club said in a statement announcing the new ownership agreement.
Leeds’ latest stint in the Premier League lasted three seasons after it had been out of England’s top soccer league for the prior 16 seasons.
The change of ownership in Leeds is just the most recent change in ownership of a European soccer team involving American professional athletes. Former NFL star J.J. Watt became a minority investor in Burnley F.C. alongside his wife and soccer player Kealia Watt in May. Burnley is one of the teams replacing Leeds in the Premier League in the 2023-24 season.
The owners of a few other NFL teams also have a full ownership stake in English soccer teams. Los Angeles Rams owner Stan Kroenke owns Arsenal. Jacksonville Jaguars owner Shahid Khan owns Fulham. The Glazer family, who owns the Tampa Bay Buccaneers, also owns Manchester United.
The 49ers soon will own a different kind of football team.
According to Reuters, the 49ers have reached an agreement to buy full equity in Leeds United.
49ers Enterprises first acquired a stake in the club in 2018. The ownership had increased to 44 percent. The 49ers will now buy the remaining 56 percent from Andre Radrizzani.
Leeds recently was relegated from the Premier League.
Sports Business Journal reported in April that, once the deal happens, 49ers president Paraag Marathe will become the primary owner of Leeds United.
