San Francisco 49ers’ owners have bought a minority stake in Leeds United after the two clubs announced “a strategic partnership”.
49ers Enterprises are reported to have bought 10% of the club after talks with owner Andrea Radrizzani, who will continue in his current role as chairman.
The unique collaboration is designed to see the Championship side benefit from the experience and collective network of the two entities in the sports and business worlds.
“This strategic partnership enables Leeds United to align with and gain invaluable expertise from the owners of one of the biggest global sports entities,” Radrizzani told Leeds’ official website. “The 49ers are an innovative, successful organisation and we are delighted to have access to such a rich source of business and sporting expertise.
“This exciting partnership builds on the foundations we have laid down at the Club in the last 12 months and we can assure supporters that the funds invested will go towards improving results on the pitch.”
As part of the partnership Paraag Marathe, President of 49ers Enterprises and Executive Vice President of Football Operations, has assumed a seat on the Leeds United board of directors.
“I am particularly pleased to welcome Paraag to the Leeds United board,” Radrizzani added. “Paraag comes with a wealth of experience. We look forward to working with him and learning from his deep understanding of a sporting giant.”
Leeds United insist that the money gained from the investment will be used to help invest in the first-team squad.