English club Leeds United has been fully acquired by 49ers Enterprises, the venture capital arm of National Football League (NFL) team San Francisco 49ers, the club announced on Monday.
Former club chairman Andrea Radrizzani sold his majority stake worth a reported $209 million after Leeds was relegated from the Premier League, per Front Office Sports.
The 49ers initially bought a 15 percent stake in Leeds United in 2018 and upped their investment to 44 percent in 2021.
Leeds United was recently relegated to the English Football League, the second-tier of England's football system, after placing 19th out of 20 in the Premier League in the 2022-23 season.
Leeds has long planned to upgrade their home Elland Road stadium, increasing its capacity from 38,000 to 55,000, which could cost around $100 million.
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Leeds United: a shell of its former glory
Leeds United was one of England's most competitive and popular clubs during the 20th century. The club won three league titles in 1969, 1974, and 1992.
Leeds' rivalry with Manchester United is considered one of the fiercest in world football. Sir Alex Ferguson described the atmosphere during their matches as hostile and frightening, surpassing the intensity of their games against Liverpool.
However, the rivalry dwindled during the turn of the century, when Leeds spent some time in League One, the third-tier of English football, and has spent most of the century in the second-tier English Football League.
Meanwhile, Manchester United continued to rack up Premier League titles, and they won the UEFA Champions League in 2008.
Leeds also has a longstanding rivalry with Chelsea.
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